Bitcoin Retreats After Swings Highlighted the Risk of Volatility - BNN Bloomberg

in hive-116221 •  4 years ago 

STEEM POSTS

Bitcoin retreated Tuesday after a bout of volatility highlighted lingering doubts about the durability the token's mesmerizing rally.

The cryptocurrency fell about 6.8% to $51,210 as of 11:52 a.m. in Tokyo on Tuesday, following a drop of as much as 17% a day earlier to below $50,000. The token is still up more than 400% in the past year, a rise that dwarfs other assets.

Treasury Secretary Janet Yellen and Microsoft Corp. co-founder Bill Gates were the latest to weigh into a debate over the digital coin. Gates cautioned about how investors can be swept up in manias, while Yellen said Bitcoin is an "extremely inefficient way of conducting transactions."


Shared On DLIKE

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Copying/Pasting full or partial texts with adding very little original content are frowned upon by the community. Repeated copy/paste posts could be considered spam. Spam is discouraged by the community and may result in the account being Blacklisted.