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2021-04-19

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Bitcoin plunged to $50K overnight. Here's why

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Here's why","url":"https://stock-news.laohu8.com/highlight/detail?id=1182497750","media":"seekingalpha","summary":"Cruising along north of $60K for the past few days, bitcoin (BTC-USD) last night tumbled to just abo","content":"<p>Cruising along north of $60K for the past few days, bitcoin (BTC-USD) last night tumbled to just above $52K inthe space of a few minutes. Some exchanges printed lows of around $50K. The move dragged down about the whole crypto sector, including popular names like Ether (ETH-USD), Binance Coin (BNB-USD), and Filecoin (FIL-USD).</p>\n<p>Likely the number one reason for the plunge was a bit too much frothinesssurrounding last week'sCoinbase(NASDAQ:COIN)IPO, which had helped send bitcoin to a new record high just shy of $65K. Alongside, Dogecoin (DOGE-USD) - for example - rose above $0.40 - it had been trading at a fraction of a penny not long ago. The Dogecoin frenzyapparently crashedRobinhood's crypto trading on Friday.</p>\n<p>As for specific news, a wholly unverified and unlikely to be truerumor shot around Twitterthat the Treasury was looking into charging several financial institutions with using cryptocurrencies for money laundering.</p>\n<p>Others are blaming the move ona near-50% decline in the Bitcoin Hash Ratethanks to power outages in China. The hash rate is the measuring unit of the processing power of the Bitcoin network, and generally speaking, the higher, the better.</p>\n<p>Bitcoin has recovered modestly, now trading at $54K.</p>\n<p>Speaking of frothiness,Greenlight's David Einhorn last week ruminated on \"quasi-anarchy\" ruling the markets.</p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bitcoin plunged to $50K overnight. 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Here's why\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-19 09:06 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3682771-bitcoin-plunged-to-50k-overnight-heres-why><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Cruising along north of $60K for the past few days, bitcoin (BTC-USD) last night tumbled to just above $52K inthe space of a few minutes. Some exchanges printed lows of around $50K. The move dragged ...</p>\n\n<a href=\"https://seekingalpha.com/news/3682771-bitcoin-plunged-to-50k-overnight-heres-why\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SQ":"Block","PYPL":"PayPal","COIN":"Coinbase Global, Inc.","GBTC":"Grayscale Bitcoin Trust"},"source_url":"https://seekingalpha.com/news/3682771-bitcoin-plunged-to-50k-overnight-heres-why","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1182497750","content_text":"Cruising along north of $60K for the past few days, bitcoin (BTC-USD) last night tumbled to just above $52K inthe space of a few minutes. Some exchanges printed lows of around $50K. 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