Mike Segar/Reuters
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Bitcoin is slumping again, down 8% Monday, as the flagship cryptocurrency pares many of Friday's gains. The brief buoyancy was seen as a possible correction to last week's bloodbath.
Here's the scoreboard as of Monday morning:
- Bitcoin (BTC): $10,594 (-8.0%)
- Ethereum (ETH): $973 (-7.1%%)
- Ripple (XRP): $1.19 (-5.8%)
- Bitcoin Cash (BCC): $1,587 (-10.3%)
- Litecoin (LTC): $175 (+7.9%)
What's happening:
- The world’s most valuable bitcoin startup just grabbed an ex-Twitter exec to make cryptocurrency more user-friendly
- Financial watchdogs are going through the cryptocurrency market with a 'fine tooth comb'
- DEUTSCHE BANK: Correlation between bitcoin and Wall Street's 'Fear Index' is increasing 'dramatically'
- Shares of a telecom company jumped 130% after it pivoted to blockchain.
- The electricity needed to mine one bitcoin is more than the average American household uses in two years, Morgan Stanley estimates.
- Bitcoin's fluctuations are too much even for cybercriminals, who are beginning to instead denominate their ransoms in US dollars
- Finally, OF COURSE governments won't give up control of money — that’s why crypto is crashing
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See Also:
- TOM LEE: Bitcoin's bloodbath was totally normal and opened up 'the biggest buying opportunity in 2018'
- Credit Suisse says bitcoin's fair value is almost half its current price
- Here's how the brutal crypto sell-off has affected the market beyond bitcoin
SEE ALSO: A popular bitcoin stock announced a 91-for-1 split that could make it more accessible to the masses
