Business
Cryptocurrencies like Bitcoin have dropped 50%. What’s going on? – The Motley Fool Australia
Cryptocurrencies like Bitcoin, Ethereum, Litecoin and Ripple have pretty much halved in just a couple of weeks. What’s going on… Elon?
It was only 6 weeks ago that Bitcoin(CRYPTO: BTC) was making a new all-time high. Yep, in mid-April, Bitcoin was comfortably above US$60,000 a coin and was exploring territory as high as US$63,000. How a difference of 6 weeks matters in the cryptocurrency world.
Today, Bitcoin is worth almost half of what it was on 15 April, going for US$34,408 at the time of writing. That’s close to a 44% slide in value for the largest cryptocurrency by market capitalisation.
Its not just Bitcoin either. Just 2…
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