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Texas launches cryptocurrency reserve with $5 million investment
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Cryptocurrency Prices Today, Dec 4: Bitcoin Attempts Recovery Above $93K; Ethereum Shines, Altcoins
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Bitcoin briefly dips below $85,000 in crypto rout Bitcoin and companies tied to cryptocurrencies extended a nearly two-month swoon Monday, tracking with a broader market sell-off in technology companies that many see as overvalued. Bitcoin slid 5.6% after being down nearly 12% earlier in the day, settling in just above $86,000. Early Tuesday, it was trading around $86,650. The most-traded cryptocurrency is down about 33% since hitting a record $126,210.50 on Oct. 6, according to crypto trading platform Coinbase. Bitcoin had soared since April in line with the stock market and driven partly by a more crypto-friendly tone in Washington. Companies that enable investors to buy and sell cryptocurrencies, as well as the growing number of co$BTC $ETH $BNB #BinanceBlockchainWeek #IPOWave #BinanceAlphaAlert mpanies who have made investing in bitcoin their main business focus, were hammered in Monday’s sell-off. Coinbase Global fell 4.8% and online trading platform Robinhood Markets lost 4.1%. Bitcoin mining company Riot Platforms dropped 4%. Strategy, the biggest of the so-called crypto treasury companies that raises money just to buy bitcoin, fell 3.3%. The company has reported holding 649,870 bitcoin. As of 4 p.m. EST Monday they were worth about $55.7 billion. Earlier, Strategy said it expects bitcoin to end the year between $85,000 and $110,000, down from an Oct. 30 forecast of $150,000.
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Eric Trump Eric Trump’s cryptocurrency firm tumbles nearly 40% amid ‘crypto winter’
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