• Home
  • Stock News
  • Privacy Policy
  • Email Whitelisting
No Result
View All Result
Dividend Stocks Report
No Result
View All Result
Home Stock News

Bitcoin loses $10,000, or 17%, in 24 hours after overnight rout

by
December 4, 2021
in Stock News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Related Posts

This fund manager is beating the market — and he has 4 tips for investors

Fund manager says this stock is so cheap it makes ‘no sense’

At least 40 people found dead in truck in San Antonio, local reports say

Tuesday: Case-Shiller House Prices

Bitcoin and ether are the two most prominent cryptocurrencies.

Jaap Arriens | NurPhoto | Getty Images

Bitcoin prices dropped sharply overnight Saturday, plunging to a low near $43,000.

The world’s most prominent cryptocurrency pared losses subsequently, last changing hands at around $47,426, according to Coin Metrics.

From a 24-hour period spanning early Friday morning to early Saturday morning, bitcoin’s price went from about $57,000 to $47,000, losing $10,000, or more than 17%.

Loading chart…

The price of ether also dived to a low near $3,500 on Saturday. It came back somewhat afterward, trading near $3,870. Ether, the world’s second-largest digital coin by market value, lost more than 16% from Friday morning around 8 am ET through to Saturday 8 am ET.

Crypto began falling Friday as stocks pulled back and investors fled to the safety of Treasuries, pushing the 10-year yield lower. Risky tech stocks were among the biggest losers on Wall Street on Friday, with Tesla shedding 6%. The ARK Innovation fund lost 5% on Friday and 12% on the week.

As the sentiment soured in the tech space, those investors may have also started unloading their crypto.

But there was no clear reason for the cryptocurrency drop, especially overnight Saturday when the losses accelerated.

Both cryptocurrencies have experienced turbulent trade since the omicron Covid variant emerged, tracking global stock markets which have been also volatile. On Nov. 26, bitcoin hit a seven-week low close to $54,000, officially entering bear market territory.

Bitcoin is now down about 30% from an all-time high close to $69,000, which it hit in early November. Bear markets are typically defined as a decline of 20% or more from recent highs.

The World Health Organization on Friday said the Covid omicron variant has been detected in 38 countries, up from 23 two days ago, with early data suggesting the strain is more contagious than delta.

— CNBC’s Ryan Browne contributed to this report.

Next Post

How to prepare your portfolio for a stock market crash

Leave a Reply Cancel reply

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

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

Popular Posts

Stock News

This fund manager is beating the market — and he has 4 tips for investors

by
June 28, 2022
0

It's a tough year to be in the stock market, given the seemingly never-ending cycle of gyrations. Inflationary pressures remain...

Read more

This fund manager is beating the market — and he has 4 tips for investors

At least 40 people found dead in truck in San Antonio, local reports say

Fund manager says this stock is so cheap it makes ‘no sense’

Tuesday: Case-Shiller House Prices

Stock index futures inch higher following a losing day Monday

Pelosi says Democrats are mulling plans to protect abortion access, data in reproductive health apps

Load More

All rights reserved by www.dividendstocksreport.net

  • Home
  • Stock News
  • Privacy Policy
  • Email Whitelisting
No Result
View All Result
  • Home
  • Stock News
  • Privacy Policy
  • Email Whitelisting

© 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.