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Bitcoin prices tumble 50% from peak and Mark Cuban calls the crypto crash the 'great unwind'

Dow Jones2021-05-24

Dogecoin prices are at 29 cents, down 60% from the early May peak for the meme asset.

Bitcoin prices on Sunday midday were in free fall anew, with the world's No.1 crypto spiraling down more than 50% from a peak in around the middle of April, amid another bout of turbulence in the digital-asset sector.

At last check, bitcoin prices were changing hands at $32,258, down 16% on the day, after hitting a 24-hour low of $31,179, which halved bitcoin from a mid-April peak at $64,829.14.

Ether on the Ethereum blockchain, meanwhile, was seeing an even more severe slump, down 18% at $1,922 on the session and down by nearly 60% from its all-time high hit earlier this month at $4,382.73.

The weekend carnage in crypto was drawing the attention of bulls and market participants, including billionaire Mark Cuban, who appeared to partly pin the slump on excess leverage and speculation on alternatives to bitcoin.

Popular meme asset, dogecoin, was changing hands at 29 cents, down 60% from its all-time high at around 74.07 earlier this month.

The slide for crypto extends a drop that has taken hold over the past several days, underlined by fears of irrational exuberance in parts of the digital-asset market and concerns about intensifying regulation on the nascent sector.

China on Friday rules and request that crypto transactions of $10,000 be reported to the government.

One popular measure of anxieties in the crypto market, the fear and greed index was at 14, indicating extreme fear, after touching a level of greed last month at 55.

Unease festering in digital assets may also bleed over in to stocks too, with equity benchmarks, including the Dow Jones Industrial Average , the S&P 500 index and the Nasdaq Composite Index , seeing choppy trade in recent action.

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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Comment32

  • JS64
    ·2021-05-24
    Like and share
    Reply
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  • iamateh
    ·2021-05-24
    be greedy when others are fearful
    Reply
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  • boonk
    ·2021-05-24
    Sell btc
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  • Salibee
    ·2021-05-24
    Bet against crypto! Governments wont allot this to happen!
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  • Brrrrrrrrrrr
    ·2021-05-24
    @@
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  • ChowCCJ
    ·2021-05-24
    time to buy in? 
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  • 陈河马
    ·2021-05-24
    Wow
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  • Uday
    ·2021-05-24
    Thanks, under monitoring 
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  • Cryotan
    ·2021-05-24
    It will go down more with more negative news.
    Reply
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  • Joanne93
    ·2021-05-24
    Pls comment 
    Reply
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    • Donovon
      Ok
      2021-05-24
      Reply
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    • Joanne93
      Thx
      2021-05-24
      Reply
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  • Cryotan
    ·2021-05-24
    It is too high already for an non-existent asset.
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    • Sporean
      Well Said!
      2021-05-24
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  • Donovon
    ·2021-05-24
    Pls comment and like
    Reply
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    • Donovon
      Thx
      2021-05-24
      Reply
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    • Joanne93
      Done
      2021-05-24
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  • Stevenoh
    ·2021-05-24
    Still good to buy
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  • CeeeKay
    ·2021-05-24
    Time to buy 
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  • Dedpullx
    ·2021-05-24
    Like & comment ?
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    • Hayz
      like and comment
      2021-05-24
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  • dpyc
    ·2021-05-24
    Is it time for bottom picking? 
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  • Sam51
    ·2021-05-24
    Pls like and comment tq 
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    • Zfron
      Hard to time, just average down
      2021-05-24
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    • dpyc
      Is it time to pick up some?
      2021-05-24
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    • Zfron
      Comment back pls
      2021-05-24
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  • JHx
    ·2021-05-24
    Amen
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  • Kevin92
    ·2021-05-24
    Like and comment
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  • Huatkor
    ·2021-05-24
    Remember the tulip bubble. 
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    • Zfron
      Comment back pls
      2021-05-24
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    • Kevin92
      Like and comment
      2021-05-24
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