Bitcoin slumps 14% as pullback from record gathers pace
Al Jazeera
Cryptocurrency sinks to $46,568 in its largest daily drop in a month after surging past $50,000.
Bitcoin has dropped below $50,000 as investors began to get a little nervous about the digital currency’s lofty valuation and some leveraged players took profit. The cryptocurrency dropped more than 14 percent on Tuesday, its largest daily drop in a month, to hit $46,568. That extends a sharp withdrawal from a record high hit on Sunday to about 20 percent, although Bitcoin remains up about 75 percent for the year. The drop came despite broad US dollar weakness.More Related News