CryptoWhistle - Crypto Currency Tracker logo CryptoWhistle - Crypto Currency Tracker logo
Seeking Alpha 2021-04-19 10:04:48

Bitcoin pares big weekend losses; Coinbase starts week on back foot

Bitcoin (BTC-USD) has recouped some of its steep losses after sliding to as low as $52,148.98 on Sunday morning, just days after notching an all-time high above $64,800. As of 5:00 a.m. ET, Bitcoin was trading up 2% at $57,271 as the weekend carnage tests the resolve of crypto investors. It follows a big week for the industry, which saw the value of all coins swell to $2.25T due to a frenzy of demand in the runup to Coinbase's direct listing.What happened? The number one reason for the plunge was attributed to the crypto frothiness seen last week. Take Dogecoin (DOGE-USD) for example, which soared 400% to hit an all-time high of 45 cents after trading at a fraction of a penny not long ago. Another unverified report on Twitter claimed that the U.S. Treasury was looking into charging several financial institutions with using cryptocurrencies for money laundering. Others blamed

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.