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Bitcoin Price Takes Another Tumble, Shedding Nearly $1K in 20 Minutes
The overall crypto market has shed some $80 billion over the past 24 hours.
By Daniel Kuhn
Updated Sep 13, 2021, 9:22 a.m. Published Jun 27, 2019, 5:51 p.m.
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Bitcoin's price continued a downward trend Thursday, falling nearly $1,000 in a 20-minute period according to data from Coinbase Pro, which indicated the world's largest cryptocurrency by market cap dropped from $11,700 at 16:05 UTC to $10,800 by 17:44 UTC.
While the price briefly stabilized, it fell as far as $10,346, according to Coinbase data. As of press time, bitcoin's price hovered around $10,600.
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The latest slump coincided with massive losses in the price of the overall cryptocurrency market, with the majority of the top 100 cryptocurrencies by market cap seeing their prices fall as well.
Bitcoin SV was the biggest loser in the top 10, with its price falling nearly 25 percent on the day, according to data from CoinMarketCap.
The overall crypto market shed some $80 billion over the past 24 hours.
This is the second day in a row that bitcoin’s price has slumped, after the frenzy which coincided yesterday with Coinbase’s brief outage. At the time, bitcoin’s price fell more than $1,700 in 15 minutes.
Nikhilesh De contributed reporting.
Exchange drop image via Shutterstock
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'We do not do illegal things': Inside a U.S.-sanctioned stablecoin issuer's race to build a crypto giant
Oleg Ogienko, the public face of A7A5, pitched the ruble-pegged stablecoin as a fast-growing trade rail built to move money across borders despite sanctions pressure.
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- Oleg Ogienko, the public face of ruble-denominated stablecoin issuer A7A5, insists the firm complies fully with Kyrgyz regulations and international anti-money-laundering standards despite extensive U.S. sanctions on its affiliates.
- A7A5, whose issuing entities and reserve bank are sanctioned by the U.S. Treasury, has grown faster than USDT and USDC and aims to handle more than 20 percent of Russia’s trade settlements, primarily serving businesses in Asia, Africa and South America trading with Russian partners.
- Ogienko said that he and his team were developing partnerships with blockchain platforms and exchanges during Consensus in Hong Kong, though declined to name specifics.
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