Persistance Is A Bitch
- May 18, 2012
Bitcoin's wild ride gives traders no rest on Sunday
- Bitcoin's (BTC-USD) wild swings continue through the weekend, taking a downturn on Sunday, sliding to as low as ~$31.1K.
- In the past 24 hours, the world's largest crypto drops ~13% to $32.9K as of 2:22 PM New York time.
- One metric gauging implied volatility on bitcoin, similar to the U.S. stock market's VIX index, topped 130, Bloomberg reported, exceeding the VIX's all-time high.
- The slump extends a volatile week for bitcoin, during which China and the U.S. in different ways vowed to tighten cryptocurrency regulation and Elon Musk tweeted statements that appeared to condemn then support bitcoin.
- Ethereum (ETH-USD) drops 16% to $1,292.20, dogecoin (DOGE-USD) falls 13% to 29 cents, Binance Coin (BNB-USD) slides 25% to $231.46, Cardano (ADA-USD) slumps 21% to $1.16.
- See why SA contributor The Value Trend views now as the time to add more bitcoin.