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.
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Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.