Bitcoin drops 28% below $10,000 on Coinbase; ethereum crashes 30% in 24 hours

Bitcoin briefly plunged below $10,000 late Tuesday afternoon on Coinbase, after first topping the psychologically key level in late November.Other major digital currencies also sold off sharply. Digital currency ethereum plunged 30 percent Tuesday, to below $1,000, while ripple fell below $1.In fact, nearly every major cryptocurrency suffered massive losses during the day.Ethereum traded at about $1,062 as of 8:12 p.m. ET. That represented a sizable rebound after hitting a low of $854 earlier in the afternoon. Coinbase is the leading U.S. marketplace for trading bitcoin, ethereum, litecoin and bitcoin cash.

Source: Bitcoin drops 28% below $10,000 on Coinbase; ethereum crashes 30% in 24 hours – CNBC

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Craig Erlam

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam