Bitcoin dives below $10,000, giving up some of this year’s epic rally
Story by: Yun Li
- The world’s most widely traded cryptocurrency dropped to a low of $9,676 on Tuesday, a roughly $3,800 drop from its highs on Wednesday
- Bitcoin started its free fall on Thursday, plunging nearly $3,000 as an outage occurred on popular cryptocurrency trading platform Coinbase.
- Still, Bitcoin has soared about 200% this year so far.
Bitcoin plunged Tuesday below $10,000, cratering from a 17-month high hit just four sessions ago.
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The world’s most widely traded cryptocurrency dropped to a low of about $9,676 on Tuesday, a roughly $3,800 drop from its highs on Wednesday, according to Coindesk. Bitcoin started its free fall on Thursday, plunging nearly $3,000 as an outage occurred on popular cryptocurrency trading platform Coinbase.
Other large coins also fell on Tuesday, with Monero and Decred tumbling at least 6.5%, according to Coindesk.
Still, Bitcoin has had a stellar turnaround this year, soaring about 200% in 2019.
The volatile cryptocurrency rebounded early this year after tumbling more than 70% in 2018 as high-profile hacks and crackdowns on initial coin offerings dampened investor enthusiasm. The comeback this year was largely attributed to more interest in the space following Facebook’s announcement of a cryptocurrency project, a breakout from key technical levels and some hedging amid trade wars.
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