A bitcoin is similar to cash but in electronic form
Bitcoin plummeted on Thursday, November 26, to its lowest level in 10 days, dragging smaller cryptocurrencies down and putting a halt on its blistering rally. The world’s largest cryptocurrency slumped to 13 per cent, its lowest since November 16. Bitcoin was last down 9 per cent at $17,074, a drastic correction from its three-year high of a $19,521 hit on Wednesday, November 25. Bitcoin rallied around 140 per cent this year tracking increased demand for riskier assets and expectations that cryptocurrencies will win mainstream acceptance. Ethereum, the second-largest cryptocurrency, dropped around 13 per cent, while XRP, the third-biggest one, dropped by 20 per cent.
Both these coins, having generally been moving in tandem with bitcoin, touched multi-year highs earlier this week. The cryptocurrency’s 12-year old history has seen sharp gains and drops. The volatile nature has affected the use of payments and made several larger investors cautious.
Since 2017, a cryptocurrency derivatives market has developed, with the offshore exchanges offering highly leveraged positions. During times of thin liquidity, any move in these markets can put an outsize effect on bitcoin’s price. Some expressed worries surrounding the speculation from market players amid tighter US regulation.
“There’s definitely been a sense of euphoria in markets over the last couple of days,” said Joseph Edwards of crypto brokerage Enigma Securities. “This mostly feels like a reaction to that over-leveraged markets took one small hit and suffered immensely,” he added.
Also Read: Bitcoin Gains Over 3% To $18,393 Mark: 10 Things To Know
A bitcoin is similar to cash but in electronic form. It surged exponentially this month ever since entering a four-digit value in 2013. Many major banks around the globe are exploring options for issuing digital currencies.
(Renewed) Dell Optiplex MINI 7010 Desktop USFF (Core I5 3340 3.10ghz, 8 GB RAM, 500gb HDD, Win 10 Pro, MS Office/ Intel HD Graphics/, USB 3.0, Ethernet,VGA), Black
(as of n/a - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Logitech G102 Light Sync Gaming Mouse with Customizable RGB Lighting, 6 Programmable Buttons, Gaming Grade Sensor, 8 k dpi Tracking,16.8mn Color, Light Weight (Black)
(as of n/a - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
(Renewed) HP 18.5 Inch All In One Desktop set (Intel C2D -E8400 Dual Core/4 GB/160 GB /Ultra Slim CPU/18.5" Monitor+Keyboard+Mouse+ Webcam+Mic+Speakers+Wifi/Warranty/Windows 7 Pro/MS Office 2013)
(as of n/a - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
HP 680 Ink Cartridges Combo Pack (1 Black+ 1 tri-Color Cartridge)
(as of January 22, 2021 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Apple iMac (21.5-inch, 2.3 GHz Dual-core Intel Core i5, 8GB RAM, 1TB)
(as of n/a - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Live Tech HDMI to VGA with 1pc Audio Cable(More Extra 1pc Free),Gold-Plated HDMI to VGA Adapter (Male to Female) for Computer, Desktop, Laptop, PC, Monitor, Proj, HDTV, Raspberry Pi, Media P, Xbox - White [NOT for VGA to HDMI](1 Year Warranty)
(as of n/a - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
DALUCI Super Clean High-Tech Cleaning Compound Gel for Keyboard, Laptop, Mobile (Pack of 2)
(as of n/a - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
New Apple iPad (10.2-inch, Wi-Fi, 32GB) - Space Grey (Latest Model, 8th Generation)
(as of n/a - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Redgear Pro Wireless Gamepad (Compatible with Windows 7/8/8.1/10 only)
(as of n/a - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
HP Envy Curved Core i5 8th Gen 34-inch FHD AIO (8GB/1TB HDD/GTX1050 4GB/Windows 10/Ash Silver /11.5kg) 34-b151in
(as of n/a - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)Amazon Auto Links: No products found.