Bitcoin slumped in another large weekend move after U.S. President Donald Trump\u2019s criticism of cryptocurrencies late last week put the focus back on this year\u2019s jump in prices.<\/p>\n
The largest cryptocurrency tumbled 15% since Friday to trade at $10,028.55 as of 8:54 a.m. in Hong Kong, after briefly falling as low as $9,980. Other coins also retreated: Ethereum dropped 23% and Litecoin fell 17%.<\/p>\n
Bitcoin initially climbed 6.8% on Friday after Trump\u2019s comments, but has since more than erased the gains.<\/p>\n
Trump wrote on Twitter Thursday that he is \u201cnot a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air,\u201d adding that \u201cUnregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity.\u201d He also criticized Facebook Inc.\u2019s plans for the Libra digital currency.<\/p>\n
Bitcoin \u201ccontinues to trade lower as comments from President Trump put downward pressure on the cryptocurrency,\u201d said Alfonso Esparza, senior market analyst at Oanda Corp. in Toronto.<\/p>\n
Drawing Trump\u2019s ire does mean \u201cit could fall further to $8,000, giving back all the gains made in June.\u201d<\/p>\n
Bitcoin slumped in another large weekend move after U.S. President Donald Trump\u2019s criticism of cryptocurrencies.<\/p>\n","protected":false},"author":341034,"featured_media":252401,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[44696],"tags":[187,35045],"class_list":["post-313311","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-bitcoin","tag-donald-trump"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/313311"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/341034"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=313311"}],"version-history":[{"count":0,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/313311\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/252401"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=313311"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=313311"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=313311"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}