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

USD/CAD – Canadian Dollar Subdued Ahead of BoC Rate Announcement

BoC Decision Eyed as Bitcoin Tumbles Again

Is the Market Too Aggressive on a BoC slam-dunk rate hike?

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
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.