Summary List Placement

The value of the cryptocurrency market has slid by 23% in just the last five days. It’s been pulled lower by a sell-off in bitcoin most recently catalyzed by comments made by Tesla CEO Elon Musk.

The market cap for global digital currencies came in at $1.97 trillion on Monday, down from a recent peak of $2.56 trillion on May 12, according to data from CoinMarketCap.com.

“The crypto world is in the danger zone … as no one has a handle over short-term momentum because of uncertainty on where Elon Musk stands on bitcoin,” Edward Moya, a senior market analyst at Oanda, wrote in a note to Insider on Monday. 

Bitcoin on Monday fell below $43,000 to its lowest point since February while other crypto prices suffered as well. Ether, the token of the Ethereum blockchain, was down nearly 8%, Cardano-ADA sank 10%, and Binance Coin fell about 9%. Dogecoin gave…

Continue reading…

Trending stories from over 100 sources, YouTube and Twitter
Our archive contains 191,446 news items. 642 articles added this week.