![\"Bitcoin](\"https:\/\/mybroadband.co.za\/news\/wp-content\/uploads\/2021\/01\/Bitcoin-plummet-Jan-2021.jpg\")
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The white-knuckle Bitcoin ride took another twist Monday as a two-day tumble in the digital currency stoked concern that the polarizing cryptocurrency boom may run out of steam.<\/p>\n
Bitcoin, the largest cryptocurrency, slid as much as 18% over Sunday and Monday to as low as about $33,500. That\u2019s the biggest two-day slide since May last year and follows a record high of almost $42,000 on Jan. 8.<\/p>\n
\u201cIt\u2019s to be determined whether this is the start of a larger correction, but we have now seen this parabola break so it might just be,\u201d said Vijay Ayyar, head of business development with crypto exchange Luno in Singapore.<\/p>\n
Cryptocurrencies are becoming emblematic both of the exuberance in financial markets as well as of the concern that the pace of gains is unsustainable.<\/p>\n
Believers in Bitcoin see it as a maturing asset that provides a hedge against dollar weakness and inflation risk. Others worry that the rally is untethered from reason and fueled by vast swathes of fiscal and monetary stimulus.<\/p>\n
Bitcoin has shrugged off recent dips and may do so again, potentially recovering to as much as $44,000 \u201cbefore the actual correction,\u201d Ayyar said.<\/p>\n
It pared losses and as of 1:22 p.m. in Tokyo was around $35,200. Rival digital assets are also slumping, with second-largest coin Ether tumbling as much as 20% Monday<\/p>\n
The white-knuckle Bitcoin ride took another twist Monday as a two-day tumble in the digital currency stoked concern that the polarizing cryptocurrency boom may run out of steam.<\/p>\n","protected":false},"author":341034,"featured_media":224650,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[44696],"tags":[187,191,42992],"class_list":["post-381958","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-bitcoin","tag-cryptocurrency","tag-luno"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/381958"}],"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=381958"}],"version-history":[{"count":1,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/381958\/revisions"}],"predecessor-version":[{"id":381962,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/381958\/revisions\/381962"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/224650"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=381958"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=381958"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=381958"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}<\/a><\/p>\n
\nNow read: Striking similarities between Mirror Trading International and BTC Global<\/a><\/h3>\n","protected":false},"excerpt":{"rendered":"