Bitcoin price stabilizes following crypto plunge

Bitcoin’s price stabilized Thursday, wavering between gains and losses. The world's largest cryptocurrency flirted with the $40,000 level, according to Coindesk. Traders in cryptocurrencies were licking their wounds following an extremely volatile day, suffering one of their biggest losses on Wednesday in the wake of China's decision to ban financial and payment institutions from providing digital currency services.
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How Much Amateur Bitcoin Traders Are Freaking Out Now

It’s been a brutal week for crypto investors. Over the past few months, cryptocurrencies had been enjoying record highs thanks in part to Tesla buying $1.5 billion in Bitcoin in February, NFTs fetching multimillion-dollar sums at auction, and people generally having ample time on their hands (plus government stimmies) to invest out of pandemic-induced boredom. Yet this surge in Bitcoin prices, which reached a high of $64,829 in April, began to weaken dramatically last week when Tesla CEO Elon Musk announced that the carmaker would no longer accept the cryptocurrency out of concern for its environmental impacts—a surprise given Musk’s recent, very vocal enthusiasm for crypto. The price then took an even steeper nosedive on Wednesday in the wake of China banning its financial institutions from providing cryptocurrency-related services. Bitcoin fell to a low of $30,066, about 50 percent below its record high, before rebounding ever so slightly. It’s still 40 percent below where it was in April.
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MarketsPosted by
CBS News

Why is the price of Bitcoin and other cryptocurrencies falling?

The price of Bitcoin fell as much as 29% Wednesday after the China Banking Association warned member banks of risks associated with digital currencies. Other digital currencies suffered sharp declines as well. Bitcoin's volatility was on full display: The decline had narrowed to below 10% in early afternoon trading. Bitcoin...

Bitcoin bounces back but the crypto turmoil isn't over

New York (CNN Business) — The cryptocurrency market stabilized Thursday, with bitcoin (ARSC) climbing back above $40,000. Even so, the world's largest digital currency has lost more than 30% in market capitalization since its peak in mid-April. The wider crypto market looks similarly bruised. Several digital currencies are still showing...

These are the BTC price levels to watch next as Bitcoin breaks above $40K

Bitcoin (BTC) is working to flip $40,000 to support after a record $10,000 bounce in four hours on May 19 — what are the price levels to watch?. After its stunning recovery from $30,000 lows, BTC/USD has held onto its gains, practically erasing the previous day's carnage. $46,000: Old support...

Bitcoin Plummets to Below $40K

The world’s largest cryptocurrency by volume has dropped in a month nearly 40% from its all-time high. 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...
StocksPosted by
NBC News

Bitcoin price drops sharply after Musk teases selling

Tesla CEO Elon Musk implied in a Twitter exchange Sunday afternoon that the electric vehicle maker sold or may sell the rest of its bitcoin holdings, sending the price of the cryptocurrency down. Bitcoin dipped nearly 8 percent to around $44,000 per coin. A Twitter user who goes by @CryptoWhale...