Bitcoin dropped 9.28% to $36,955.03 on Friday, while Ether dropped 12.27%.
Iranian Labour News Agency
Bitcoin dropped 9.28% to $36,955.03 on Friday, while Ether dropped 12.27%.
Bitcoin, the world's largest cryptocurrency by total market capitalisation, has been on the receiving end of a lot of volatility over the past week, with the asset dipping from an all-time high of AUD$90,000 (USD$67,280 ) on 20 October to just over AUD$81,000 at press time. Currently, BTC is trading at a price point of AUD$81,800.
Bitcoin hovered below record levels on Wednesday, the day after the first U.S. bitcoin futures-based exchange-traded fund (ETF) began trading, a development that market participants say is likely to drive investment into the digital asset.
Bitcoin hit a six-month high today, approaching the record hit in April, as traders became increasingly confident that US regulators would approve the launch of an exchange-traded fund based on its futures contracts.
Asian shares got off to a cautious start on Monday as investors awaited key U.S. inflation readings for guidance on monetary policy, while Bitcoin tried to steady after being hammered on news of China's crackdown on mining and trading of the cryptocurrency.
Bitcoin, the world’s biggest and best-known cryptocurrency, dropped 7.7% to $55,408.08 on Sunday, losing $4,624.21 from its previous close.
Bitcoin hit a market capitalization of $1 trillion as it rose to yet another record high on Friday, countering analyst warnings that it is an “economic side show” and a poor hedge against a fall in stock prices.
Tesla boss Elon Musk is a poster child of low-carbon technology. Yet the electric carmaker’s backing of bitcoin this week could turbo-charge global use of a currency that’s estimated to cause more pollution than a small country every year.
Bitcoin and other digital coins tanked on Monday wiping off some $170 billion from the entire cryptocurrency market. The market capitalization or value of the cryptocurrency market was $959.53 billion at 12:10 p.m. Singapore time, down from $1.1 trillion a day earlier, according to Coinmarketcap.
The government of Iran is said to have issued a license to Turkey-based iMiner to mine bitcoin in Iran