Bitcoin Cash
$456.55 -1.16%
BCH · 56w

Bitcoin, Ether in bear market territory after declines

Precipitous declines in prices for bitcoin and Ether in the wake of a potential crackdown on exchanges by Chinese authorities have shaved nearly $40 billion off the combined market capitalization of the cryptocurrencies over the past two weeks.

The price of a single bitcoin BTCUSD, +11.30%  tumbled nearly 8% on Thursday to $3,565, and has fallen nine of the last 13 days. Unlike stocks and bonds, bitcoin trades every day without a set closing time.

Bitcoin is now down nearly 30% from its peak at above $5,000 on September 1. This is a second drop of this magnitude in less than three months. Between June and mid-July, bitcoin prices fell 33%, largely due to fears surrounding the eventual upgrade of bitcoin’s software code and branching out of the Bitcoin Cash.

Still, bitcoin is up about 250% since the start of the year with a market cap of $59.3 billion.

Read: Bitcoin at crossroads after shedding more than $20 billion in value

The most recent bout of selling of bitcoin began when China’s regulators declared so-called in...

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BCH -1.16% · · 12h

What you need to know about Bitcoin Cash

As mobile technologies have started to take place in many transactions in daily life, the forms and types of transactions made with internet and internet based software technologies have increased. As...