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Bitcoin slips sharply from record highs

Reuters2021-02-22

Bitcoin fell sharply on Monday after surging to a record $58,354 a day earlier, as a selloff in global equities curbed risk appetite.

The most popular cryptocurrency rallied over the weekend to record levels, almost doubling year-to-date. It hit a market capitalisation of $1 trillion on Friday.

Bitcoin’s gains have been fueled by signs it is gaining acceptance among mainstream investors and companies, from Tesla Inc and Mastercard Inc to BNY Mellon.

It fell as much as 6% on Monday, and was last trading down 4.4% at $54,941. Rival cryptocurrency ether fell 7% to $1,798 after also hitting a record high on Saturday.

Traders said the move was largely technical, and not tied to any particular news catalyst.

“We did finally see some momentum gathering over the weekend, but weekend rallies haven’t been sustainable lately,” said Joseph Edwards of Enigma Securities, a cryptocurrency broker in London.

“We do tend to think that there’s a good chance of a down week and small correction coming in off of this, although it does little to dull medium-term prospects.”

Tesla boss Elon Musk, whose tweets on bitcoin have added fuel to the cryptocurrency’s rally, said on Saturday the price of bitcoin and ethereum seemed high.

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评论296

  • kattay
    ·2021-02-24
    :
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  • Agnes_Lim
    ·2021-02-23
    Help to comment and like to receive tiger coins 😘😘
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    • FT585
      tiger coins 👍👍
      2021-02-23
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    • Agnes_Lim
      👍👍
      2021-02-23
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  • naan
    ·2021-02-23
    U may analyze RIOT. shadow to bitcon
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  • Favian
    ·2021-02-23
    rally moreee!
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  • Jchptan
    ·2021-02-23
    Comment pls
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    收起
  • BpchuA
    ·2021-02-23
    Market is shaky
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  • ackk
    ·2021-02-23
    Let's go
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  • FT585
    ·2021-02-23
    Can fly to the moon 
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  • Poggers
    ·2021-02-23
    $SOS Limited(SOS)$$Marathon Patent(MARA)$$Riot Blockchain, Inc.(RIOT)$These are days that make me consider to just buy the cryptocurrency itself instead of buying these companies to expose more risk. Where even though btc > $50k, these mining companies are not holding strong at all[流泪] 
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    • Poggers
      Yea sia
      2021-02-24
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    • Favian
      yo sup
      2021-02-24
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  • Jassss
    ·2021-02-23
    Buy the dip and hold if you can. 
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  • Tchua
    ·2021-02-23
    At what price will you accumulate?
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  • 火星投资狼
    ·2021-02-23
    Buy the dip now, BTC will likely hit 100K if the US market crashed .
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  • Kennyboy
    ·2021-02-23
    Cool
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    • Hrms
      Nice
      2021-02-23
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  • LeroyZhang
    ·2021-02-23
    Time to dip man
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    • LeroyZhang
      Surely :)
      2021-02-23
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    • Kennyboy
      cool
      2021-02-23
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  • ZLiao
    ·2021-02-23
    Like comments share for coins!!
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  • trollololol
    ·2021-02-23
    Please reply and like my comment!! Thank you
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  • trollololol
    ·2021-02-23
    Can i please get a like?
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  • greenpepper
    ·2021-02-23
    Time to buy!!
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  • Dankel
    ·2021-02-23
    Scary... 
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  • RyC
    ·2021-02-23
    [喷血] 
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