Tag: Blockchian

Blockchian

Hold On: The Bitcoin, Ethereum Rollercoaster Goes Full Throttle

It seemed, not for the first time, like the cryptocurrency bubble had burst yesterday, when the price of Bitcoin tumbled 22% and Ether – Ethereum’s native cryptocurrency – similarly dropped 23%.

As Profit & Loss previously reported, these cryptocurrencies – the largest two available by market capitalisation – have been trending up rapidly in 2017, reaching record highs at the start of June.

Yet Bitcoin went from a valuation high of $2,823 on Wednesday to a low of $2,189 on Thursday, according to data from Coindesk. Likewise, the data showed that the price of Ether dropped from $395 to $303 over the same period of time.