Bitcoin, other cryptocurrencies plunge after report on Goldman plans

Finance


Yu Chun Christopher Wong | S3studio | Getty Images

A visual representation of the digital Cryptocurrency, Bitcoin, is seen on September 04 2018 in Hong Kong, Hong Kong.

Bitcoin prices continued to get slammed early Thursday, following a report that Goldman Sachs was dropping its plans for opening a trading desk for cryptocurrencies.

The world’s largest digital currency fell to $6,381 or down 11 percent around 6:38 a.m. ET over the previous 24 hours, according to data from Coinbase.

Beyond bitcoin, the price of other cryptocurrencies also continued to plunge, according to tracking site CoinMarketCap. As of 6:38 a.m. ET, the price of ethereum had fallen by 15 percent in 24 hours, while Ripple’s XRP token had seen its value dive by 9 percent and bitcoin cash dropped by 16 percent during that time.

Digital currencies often move in tandem, pulled by the fortunes of bitcoin — which far exceeds its peers in terms of market size.



Source link

Products You May Like

Articles You May Like

Your first trade for Friday, Sep 21
Audi unveils e-tron to challenge Tesla’s luxury EV dominance
A true bear market is really nowhere to be seen, Rich Bernstein says
Mohamed El-Erian sees risk to the market but not a global trade war
A wrong move on this retiree health-care coverage could be costly

Leave a Reply

Your email address will not be published. Required fields are marked *