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Showing posts with the label Bitcoin Report.

Bitcoin Plummets Below $6,000 to Lowest Level in Over a Year

bloomberg.com By Olga Kharif and Eddie van der Walt Bitcoin tumbled below $6,000 for the first time since August and reached its lowest level in over a year, breaking the recent stretch of tranquility exhibited by the notoriously volatile digital alternative to cash. The world’s largest cryptocurrency tumbled as much as 15 percent, with most of the initial loss coming within a half hour window. It’s the biggest drop since February. Other digital coins slumped, with smaller rivals Ether, Litecoin and XRP dropping more than 17 percent. Bitcoin Cash tumbled as much as 21 percent as the Bitcoin offshoot faces its own split. “The market is trying to find the bottom,” said Michael Terpin, a San Juan, Puerto Rico-based partner at Alphabit Fund. “People who are chartist