+ 7.05
+ 2.21%
+ 4.00
+ 1.18%
+ 6.32
+ 1.54%
+ 1.27
+ 0.94%
+ 1.54
+ 0.9%

Bitcoin Plunges, Taking Other Cryptocurrencies With It

April 18, 2021 9:44 am
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
Bitcoin Plunges, Taking Other Cryptocurrencies With It

After reaching a record a few days ago, Bitcoin is dropping, along with other popular cryptocurrencies. Here are some of the latest numbers:

  • The world’s biggest cryptocurrency, Bitcoin (CRYPTO: BTC) in the last 24 hours has dropped about 9% to $55,268 as of time of publishing, according to CoinMarketCap.
  • Similarly Ethereum (CRYPTO: ETH) fell almost 12% to $2,110, as of publication time. 
  • According to Bloomberg, the crypto markets are stumbling amid rumors that the U.S. Treasury Department may take action against financial institutions because of money-laundering concerns.
  • Simple profit-taking also is likely playing a part, given the highs that came following the listing of Coinbase Global Inc (NASDAQ:COIN) last week. Bitcoin broke past $64,000 on Wednesday, the day of Coinbase's listing.
  • Dogecoin also is down from its record high of about 44 cents on Friday, now standing at $0.303 as of publication time, though it has since rebounded in the past 24 hours.
  • The drop also comes upon news of Coinbase insiders selling off shares right after Wednesday's listing.

Learn more: How to Buy Bitcoin (BTC)

Story updated to add latest on Dogecoin and news of Coinbase insiders selling shares.

Related Articles

Coinbase Analysts: Crypto Exchange Well Positioned to Continue Strong Growth Trajectory

Coinbase Global Inc (NASDAQ: COIN) shares started Friday reacting positively to cryptocurrency's mixed quarterly results, but have since retrea read more

Coinbase To Let The Doge In: What Investors Need To Know

Coinbase Global, Inc. (NASDAQ: COIN) is finally warming up to Dogecoin (CRYPTO: DOGE), which has had a stellar run thus far this year. At one point last week, the meme currency hit a peak of 73.76 cents, a gain of about 15,600% for the year. read more

Bitcoin Still Has Upper Hand Over Tesla Shares, Says Analyst Who Predicted Rise To $50K

An analyst who forecasted the apex cryptocurrency’s rise to $50,000 levels last year said Thursday that Bitcoin (BTC) has a relatively upper hand compared to Tesla Inc’s (NASDAQ: read more

Tesla Has Had A Major Bull In Cathie Wood's Ark. Now The Two Are At Odds Over Elon Musk's Bitcoin Stance

Cathie Wood-headed ARK Invest’s Director of Research Brett Winton is calling Bitcoin (BTC) a “novel economic institution” and said its potential outweighs its energy requirements — a stance diametrically opposite taken by Tesla Inc read more