Days after a record high, bitcoin plunges in biggest intraday drop since February
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Last Updated: Apr 18, 2021, 12:53 PM IST
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Several online reports attributed the plunge to speculation the U.S. Treasury may crack down on money laundering that’s carried out through digital assets.
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Bitcoin plunged the most in more than seven weeks, just days after reaching a record.
The token fell 8.5% to $55,689.98 as of 1:48 p.m. in Singapore on Sunday, after declining as much as 15.1% to $51,707.51 earlier. Ether, the second-largest cryptocurrency, fell almost 8%.
Several online reports attributed the plunge to speculation the U.S. Treasury may crack down on money laundering that’s carried out through digital assets.
Bitcoin might be a good investment but Bitcoin mining stocks aren t
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Last Updated: Feb 21, 2021, 05:48 PM IST
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Take Canaan Inc. the largest member of the Elwood Blockchain Global Equity Index. The Hangzhou-based company makes chips and equipment used in miners.
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If you believe in Bitcoin, you buy Bitcoin. And if you’re wary, you stay away. That’s about the simplest way of calculating your investment options when it comes to the world’s most infamous speculative bet.
Of course, you can join the hoards of Telegram and Reddit groups claiming to understand and predict the twists and turns in the cryptocurrency’s price, making you just that much smarter than everyone else. Well done.
The largest cryptocurrency rose as much as 4.8% to about $50,927, according to a composite of prices compiled by Bloomberg. The token is up more than fivefold in the past year.
The price of bitcoin rose by as much as 4.9% on Tuesday, to $50,547.70, an intraday record high. Interest from institutional investors is adding legitimacy