时间:2025-04-03 15:15:50 来源:网络整理编辑:百科
After remaining fairly stable at around $10,000 for several months, the price of Bitcoin plummeted b
After remaining fairly stable at around $10,000 for several months, the price of Bitcoin plummeted by roughly 15% late on Tuesday, reaching a low of $8,165 on Coinbase.
Other major cryptocurrencies, like Ethereum and XRP, followed suit, recording similarly drastic losses before recovering slightly. The prices at writing time are $8,398.1 for Bitcoin, $165.9 for Ethereum, and $0.24 for XRP according to CoinMarketCap.
Sharp losses and gains in the world of cryptocurrencies aren't uncommon, but this event is interesting for several reasons. Besides breaking a period of relative stability and pushing the prices of major cryptocurrencies to levels unseen by June, it comes after a few interesting developments for the crypto space.
Most important among these is likely Monday's launch of a cryptocurrency futures product by Bakkt, a crypto market backed by the Intercontinental Exchange, Microsoft, Starbucks, and Boston Consulting Group. The long-expected launch has seen tepid interest from investors, with a volume of just 71 bitcoins.
Tweet may have been deleted
"The disappointing BAKKT opening signals to the crypto community that institutions are less ready to invest in BTC at scale than was supposed, which means the price was probably too high and due for a correction. What we've just seen is short sellers and momentum traders piling on to make things worse, and now here we are back at support," Alex Mashinsky, CEO at crypto lending and depository company Celsius Network, told Mashable in an emailed statement.
It's also worth noting that the launch of CME's bitcoin futures product in Dec. 2017 roughly marked the end of a wildly bullish period for cryptocurrencies and the start of a grueling bear market which lasted a year.
Earlier this month, VanEck and SolidX have withdrawn their proposal for a Bitcoin exchange-traded fund (ETF). Numerous similar proposals have all been rejected by the U.S. Securities and Exchange Commission, which has so far found the cryptocurrency markets aren't mature enough to approve an ETF product.
Now, the question is whether we're still in a bull market, or has this latest price drop reversed course completely. The price of Bitcoin experienced a period of fairly steady rise since January, increasing from roughly $3,500 to over $13,300 in July -- and most major cryptocurrencies followed in a similar trajectory. Now, however, prices have been on the decline for more than two months, and the case for a bull market is getting weaker by the day.
Disclosure: The author of this text owns, or has recently owned, a number of cryptocurrencies, including BTC and ETH.
TopicsBitcoinCryptocurrency
Dressage horse dancing to 'Smooth' by Santana wins gold for chillest horse2025-04-03 14:59
The 12 best tweets of the week, including Beethoven, dry ribs, and Batman2025-04-03 14:58
How to use Alexa as a speaker2025-04-03 14:29
Let's talk about that mid2025-04-03 14:10
Tesla's rumored P100D could make Ludicrous mode even more Ludicrous2025-04-03 14:07
The most heartwarming reunions and hugs post2025-04-03 14:04
A 'Guardians of the Galaxy' game is coming in October and it looks rad2025-04-03 14:03
Twitter's giving away NFTs for free (it's hard to put a price on worthless)2025-04-03 13:50
Watch MTV's Video Music Awards 2016 livestream2025-04-03 13:04
Venmo's $100,000 giveaway is deeply annoying2025-04-03 12:55
What brands need to know about virtual reality2025-04-03 14:49
El Salvador wants to be the first nation to treat bitcoin like cash2025-04-03 14:47
How to use Alexa as a speaker2025-04-03 14:11
The Purge has never been subtle, but the mask is fully off in 'The Forever Purge'2025-04-03 14:07
Man stumbles upon his phone background in real life2025-04-03 13:30
Twitter's giving away NFTs for free (it's hard to put a price on worthless)2025-04-03 13:27
Marvel's 'Loki' is a cheeky, confident time2025-04-03 13:05
Facebook's smartwatch could sidestep Apple and Google's privacy push2025-04-03 13:01
Old lady swatting at a cat ends up in Photoshop battle2025-04-03 12:59
Nothing to launch its wireless earbuds in July2025-04-03 12:41