did people lose their shirt of crypto or is that just memes?
seeing alot of crying going on right now
26-30, M
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EuphoricTurtle · 41-45, M
It's pretty volatile right now
[quote][u]Bitcoin plunges on fears of regulatory crackdown
Digital asset market under intense pressure after China warns on use of cryptocurrencies
[/u]
Cryptocurrency markets tumbled in chaotic trading, and related stocks were hit, after Chinese regulators signalled a crackdown on the use of digital currencies that have soared in price this year.
Bitcoin tumbled as much as 30 per cent, with frequent rapid lurches lower, before recovering half its losses to trade at $37,000.
Other digital coins were also hit by heavy selling, with ethereum, one of the best-performing cryptocurrencies in the past month, losing a quarter of its value. [b][u]More than $8.6bn of positions have been liquidated over the past 24 hours, according to data from bybt.com, a cryptocurrency data provider.[/u][/b]
The sharp moves came after the People’s Bank of China warned financial institutions about accepting cryptocurrencies as payment or offering related services and products, amplifying concerns in this freewheeling asset class that regulators could tighten oversight around the world.
Elon Musk, Tesla’s chief executive and an outspoken cryptocurrency enthusiast, last week reversed course on accepting bitcoinas payment for Tesla’s cars on environmental grounds, also sharpening worries about the long-term future of the asset class.
[/quote]
https://www.ft.com/content/c4c29bb3-c8ee-454c-a2dd-eac9f644007f
[quote][u]Bitcoin plunges on fears of regulatory crackdown
Digital asset market under intense pressure after China warns on use of cryptocurrencies
[/u]
Cryptocurrency markets tumbled in chaotic trading, and related stocks were hit, after Chinese regulators signalled a crackdown on the use of digital currencies that have soared in price this year.
Bitcoin tumbled as much as 30 per cent, with frequent rapid lurches lower, before recovering half its losses to trade at $37,000.
Other digital coins were also hit by heavy selling, with ethereum, one of the best-performing cryptocurrencies in the past month, losing a quarter of its value. [b][u]More than $8.6bn of positions have been liquidated over the past 24 hours, according to data from bybt.com, a cryptocurrency data provider.[/u][/b]
The sharp moves came after the People’s Bank of China warned financial institutions about accepting cryptocurrencies as payment or offering related services and products, amplifying concerns in this freewheeling asset class that regulators could tighten oversight around the world.
Elon Musk, Tesla’s chief executive and an outspoken cryptocurrency enthusiast, last week reversed course on accepting bitcoinas payment for Tesla’s cars on environmental grounds, also sharpening worries about the long-term future of the asset class.
[/quote]
https://www.ft.com/content/c4c29bb3-c8ee-454c-a2dd-eac9f644007f