Bitcoin fell for a fourth day, taking it further below the $9,000 support level amid a wider sell-off in digital assets following a strong start to the year.<\/p>\n
Bitcoin was down as much as 2.6% and was trading at $8,653 at 10:40 a.m. in Hong Kong Thursday, dropping to the lowest level in a month, according to consolidated pricing data compiled by Bloomberg. The largest digital currency is now down 17% from its most recent peak on Feb. 12 when it was trading near $10,500.<\/p>\n
The Bloomberg Galaxy Crypto Index tracking a basket of cryptocurrencies tumbled as much as 5.7% as other major tokens also declined, including Ether, Litecoin and XRP.<\/p>\n
\u201cWe are currently seeing a correction underway from a top reached around $10,500 a few weeks back,\u201d said Vijay Ayyar, Singapore-based head of business development at crypto exchange Luno. \u201cBitcoin\u2019s safe-haven status is arguably not yet very well established. We\u2019re looking at an overall bearish environment given coronavirus fears and Bitcoin was bound for a pullback anyway.\u201d<\/p>\n
XRP, the third-largest crypto, slumped almost 10% on Wednesday after Ripple Labs Inc. failed to persuade a judge to\u00a0throw out\u00a0a class-action lawsuit that the blockchain payment services provider said could topple the market for the currency.<\/p>\n
Bitcoin fell for a fourth day, taking it further below the $9,000 support level amid a wider sell-off in digital assets following a strong start to the year.<\/p>\n","protected":false},"author":341034,"featured_media":149097,"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":[187,191,49047],"class_list":["post-340371","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-bitcoin","tag-cryptocurrency","tag-xrp"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/340371"}],"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=340371"}],"version-history":[{"count":1,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/340371\/revisions"}],"predecessor-version":[{"id":340373,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/340371\/revisions\/340373"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/149097"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=340371"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=340371"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=340371"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}