Share this article
Bitcoin Plummets to Below $40K
The world’s largest cryptocurrency by volume has dropped in a month nearly 40% from its all-time high.
By James Rubin
Updated Sep 14, 2021, 12:57 p.m. Published May 19, 2021, 5:32 a.m.
Bitcoin (BTC) continued its month-long swoon Tuesday night, dropping below $40,000 for the first time since early February.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- The cryptocurrency was trading around $39,678 as of 05:29 UTC (1:29 a.m. ET) – a more than 12% drop over the previous 24 hours.
- Bitcoin’s 24-hour price ranged from a low of $38,960 to a high of $45,850.
- Bitcoin has fallen nearly 40% since its high of over $64,000 in February.
- Other major cryptocurrencies continued to fall, too. Ether dipped below $3,000 for the first time since May 2, although it had regained this threshold as of 01:29 UTC.
- Joe DiPasquale, the CEO and founder of BitBull, a cryptocurrency hedge fund, said bitcoin’s volatility this year is consistent with its history of “higher highs and higher lows.”
- He called the “fall in price ... a natural consolidation period that we see as necessary for the support lines to form for future appreciation.”
Read more: Now’s the Time to Bet on Volatility in Bitcoin and Ether Markets: Options Experts
Mais para você
This article is created to test tags being added to image overlays
Dek: This article is created to test tags being added to image overlays
O que saber:
- Ethena's USDe becomes fifth stablecoin to surpass $10 billion market cap in just 609 days, while Tether's dominance continues to slip.
Top Stories
