Bitcoin Value Suffers 50-Percent Loss in One Month as Cryptocurrencies Tumble
By Fox News // May 23, 2021
On April 14, Bitcoin closed at $64,895.22; Today the price was $32,601
ABOVE VIDEO: Bitcoin Foundation chairman Brock Pierce argues cryptocurrency regulation by the U.S. Treasury Department won’t affect the market if the rules are ‘sensible.’
(FOX NEWS) – The cryptocurrency craze continued its financial fickleness Sunday with several of the well-known digital dollars tumbling but the best-known – Bitcoin – may be proving to be the most volatile.
While Bitcoin was down 12% on Sunday from its Saturday price, it is off 50% from its 2021 high. On April 14, Bitcoin closed at $64,895.22, a little over a month later on mid-day Sunday, the price was $32,601.
Elon Musk’s favorite coin of the realm, Dogecoin, saw declines of 15%, according to prices tracked by Coindesk. Nipping on Dogecoin’s heels was Ethereum with a 14% drop capping a bad week for blockchain economics.
The weekend drop comes on the heels of diverging comments from a leading capitalist and the world’s biggest communist country.
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