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Bitcoin falls 1.8% to $50,270

Reuters2021-04-25

April 24 (Reuters) - Bitcoin dropped 1.77% to $50,269.9 on Saturday, losing $906.75 from its previous close.

Bitcoin, the world's biggest and best-known cryptocurrency, is down 22.5% from the year's high of $64,895.22 on April 14.

Ether, the coin linked to the ethereum blockchain network, dropped/dipped 4.91 % to $2,253.41 on Saturday, losing $116.36 from its previous close.

Bitcoin and other cryptocurrencies suffered hefty losses on Friday amid fears that U.S. President Joe Biden's plan to raise capital gains taxes will curb investment in digital assets.

But while social media lit up with posts about the plan hurting cryptocurrencies, and individual investors complaining about losses, some traders and analysts said declines are likely to be temporary.

There has been growing retail and institutional investor acceptance of digital currencies as a legitimate asset class. That has coincided with a surge in online trading in stocks and crypto by retail investors, stuck at home with extra cash because of the COVID-19 pandemic.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Comment17

  • reeve
    ·2021-04-25
    As I mentioned before... Fall fall fall... ?
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  • AliceQuah
    ·2021-04-25
    It's almost time to rebounce
    Reply
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  • Hamsterwan
    ·2021-04-25
    Hahaha
    Reply
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  • Boo2020
    ·2021-04-25
    Like and comment pls[微笑] [開心] 
    Reply
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  • It’s time
    Reply
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  • sinsin
    ·2021-04-25
    Up again
    Reply
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  • JY00
    ·2021-04-25
    Is time? 
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  • Boo2020
    ·2021-04-25
    Wow, is it becoz of tax?
    Reply
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  • Milankaka
    ·2021-04-25
    Weekend used to be very bullish for bitcoins
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    • ngchris
      True
      2021-04-25
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    • Milankaka
      Yes
      2021-04-25
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    • WendyGoh
      You’re right
      2021-04-25
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    View more 2 comments
  • jane投资学习
    ·2021-04-25
    It is Crazy!! 
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    • 林癸源
      [冷漠]
      2021-04-25
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  • Mourinho10
    ·2021-04-25
    Bitcoin to the moon
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    • HMHu
      Buy the dip!
      2021-04-25
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  • MilkTeaBro
    ·2021-04-25
    My heart is weak, I can't play BC.
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    • KLHuat
      Then better stands aside and watch the show, sometime takes no actian also a good move.
      2021-04-25
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    • Mourinho10
      Bitcoin to thE moon
      2021-04-25
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  • Veldora
    ·2021-04-25
    It had dropped to $47000 at one point.
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    • N30
      Feb 28th. BTFD
      2021-04-25
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  • Eshbee
    ·2021-04-25
    About time 
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  • zjayz
    ·2021-04-25
    Like and comment thanks
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  • SekharS
    ·2021-04-25
    Crypto is bearing and leading all these kind of struggles. It’s temporary decline, will bounce back and increase for sure 
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    • hmmwvms
      Buy the dips?
      2021-04-25
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  • hmmwvms
    ·2021-04-25
    Buying! 
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    • N30
      [强]
      2021-04-25
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