{"id":383700,"date":"2021-01-21T07:15:12","date_gmt":"2021-01-21T05:15:12","guid":{"rendered":"https:\/\/mybroadband.co.za\/news\/?p=383700"},"modified":"2021-01-21T07:17:13","modified_gmt":"2021-01-21T05:17:13","slug":"bitcoin-drops-below-35000","status":"publish","type":"post","link":"https:\/\/mybroadband.co.za\/news\/cryptocurrency\/383700-bitcoin-drops-below-35000.html","title":{"rendered":"Bitcoin drops below $35,000"},"content":{"rendered":"

Bitcoin\u2019s torrid rally has lost some steam this week, with the cryptocurrency falling for a second straight day Thursday to slip below its 10-day moving average.<\/p>\n

The largest digital asset is down as much as 8.4% over a two-day slide and was trading at $34,546 as of 11:50 a.m. in Hong Kong, according to price data consolidated by Bloomberg.<\/p>\n

The second-largest, Ether, was up slightly, holding at about $1,330 as the wider Bloomberg Galaxy Crypto Index dropped 0.5%.<\/p>\n

Bitcoin\u2019s latest gyrations have seen it touch a record of almost $42,000 earlier this month before quickly dropping about 17%.<\/p>\n

Debate continues to rage over Bitcoin\u2019s perceived value, with believers pointing to a maturing industry and\u00a0institutional interest<\/a><\/strong>\u00a0in the cryptocurrency as an inflation hedge while others see the return of another speculative bubble echoing its 2017 collapse.<\/p>\n

Bitcoin is struggling to maintain its momentum from the end of 2020, falling below its 10-day moving average for a third time this month after a sustained run above the level since early December.<\/p>\n

The digital asset is also on track for a second straight weekly decline, the first time that\u2019s happened since the start of October. That drop did, however, precede a seven-week run that helped propel Bitcoin into its current bull rally.<\/p>\n

\"Bitcoin<\/a><\/p>\n

\n

Now read: Bitcoin regulation in South Africa looming<\/a><\/h3>\n","protected":false},"excerpt":{"rendered":"

Bitcoin\u2019s torrid rally has lost some steam this week, with the cryptocurrency falling for a second straight day Thursday to slip below its 10-day moving average.<\/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":[187,191],"class_list":["post-383700","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-bitcoin","tag-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/383700"}],"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=383700"}],"version-history":[{"count":1,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/383700\/revisions"}],"predecessor-version":[{"id":383706,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/383700\/revisions\/383706"}],"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=383700"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=383700"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=383700"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}