{"id":114679,"date":"2021-05-20T13:07:00","date_gmt":"2021-05-20T13:07:00","guid":{"rendered":"https:\/\/fin2me.com\/?p=114679"},"modified":"2021-05-20T13:07:00","modified_gmt":"2021-05-20T13:07:00","slug":"bitcoin-price-stabilizes-following-crypto-plunge","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/bitcoin-price-stabilizes-following-crypto-plunge\/","title":{"rendered":"Bitcoin price stabilizes following crypto plunge"},"content":{"rendered":"<h2>Bitwise CIO reacts to Bitcoin plunging as China widens crackdown<\/h2>\n<p>Matt Hougan discusses if the crypto space can exist without China on &#8216;The Claman Countdown&#8217;<\/p>\n<p>Bitcoin&#x2019;s price stabilized Thursday, wavering between gains and losses.<\/p>\n<p>The world&apos;s largest cryptocurrency flirted with the $40,000 level, according to Coindesk.<\/p>\n<p>Traders in cryptocurrencies were licking their wounds following an extremely volatile day, suffering one of their biggest losses on Wednesday in the wake of China&apos;s decision to ban financial and payment institutions from providing digital currency services.<\/p>\n<p><strong>GET FOX BUSINESS ON THE GO BY CLICKING HERE<\/strong><\/p>\n<p>Rival Ether was down more than 8% at $2,679 after falling 22.8% and Dogecoin was down more than 12% at $0.36.<\/p>\n<p><strong>BITCOIN: WHAT HAPPENED AND WHAT&apos;S AHEAD<\/strong><\/p>\n<p>The drastic drop in Cryptocurrencies began last week when Tesla announced it would not accept the digital currency as payment for cars, a reversal from an earlier announcement. The reason given was the potential environmental damage that can result from Bitcoin mining.&#xA0;<\/p>\n<p>Earlier this week Tesla CEO Elon Musk clarified the company had not sold any Bitcoin.<\/p>\n<p><strong>BARSTOOL&apos;S PORTNOY SAYS HE &#x2018;WISHES&#x2019; HE COULD MANIPULATE THE CRYPTO MARKET LIKE ELON MUSK<\/strong><\/p>\n<p>On Wednesday, Barstool Sports founder and CEO <u>David Portnoy<\/u> told Fox Business&apos; &quot;<u>Varney &amp; Co.<\/u>&quot; &#xA0;that he &quot;wishes&quot; he could manipulate the <u>cryptocurrency<\/u> market like <u>Musk.&#xA0;<\/u><\/p>\n<p>&quot;I wish I could do it to the degree that Elon does it,&quot; Portnoy told host Stuart Varney.<\/p>\n<p>&#xA0;&quot;He [Musk] goes back and forth. I don&#x2019;t do that,&quot; Portnoy said.&#xA0;&quot;I wish I had his power.&quot;&#xA0;<\/p>\n<p><strong>CLICK HERE TO READ MORE ON FOX BUSINESS<\/strong><\/p>\n<p>Wednesday&apos;s slide reportedly forced some investors to close out leveraged positions in cryptocurrency derivatives. That caused prices to fall further, traders told Reuters.<\/p>\n<p>Source: <a href=\"https:\/\/www.foxbusiness.com\/markets\/bitcoin-price-stabilizes-crypto-plunge\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitwise CIO reacts to Bitcoin plunging as China widens crackdown Matt Hougan discusses if the crypto space can exist without China on &#8216;The Claman Countdown&#8217; [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin price stabilizes following crypto plunge - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/bitcoin-price-stabilizes-following-crypto-plunge\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin price stabilizes following crypto plunge - Fin2me\" \/>\n<meta property=\"og:description\" content=\"Bitwise CIO reacts to Bitcoin plunging as China widens crackdown Matt Hougan discusses if the crypto space can exist without China on &#8216;The Claman Countdown&#8217; 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