After surging to record high over the weekend, Bitcoin prices saw a huge slump on Monday as with the sell-off in equities there was reduced appetite for risky assets.
The cryptocurrency sank below $50000 but later pared losses to 8%. Elon Musk tweet that the cryptocurrency has risen too high too quickly weighed on the largest crypto. Earlier on Musk's comment who embraced the token, the crypto surged to record highs of $58000 per unit."Whatever he (Elon) does is going to dominate the news stream," said Ed Moya, senior market analyst at Oanda Corp.
Bitcoin Pares Losses After Slumping To Below $50000
Bitcoin was on a boil after institutions world over embraced the crypto and said it to be an attractive alternative to gold and the dollar.It traded at around $52,782 as of 10:20 a.m. in New York.
GoodReturns.in
Notifications
Settings
Clear Notifications
No New Notifications
Notifications
Use the toggle to switch on notifications
Block for 8 hours
Block for 12 hours
Block for 24 hours
Don't block
To start receiving timely alerts, as shown below click on the Green “lock” icon next to the address bar
Click it and Unblock the Notifications
Close X
Close X
To Start receiving timely alerts please follow the below steps:
Click on the Menu icon of the browser, it opens up a list of options.
Click on the “Options ”, it opens up the settings page,
Here click on the “Privacy & Security” options listed on the left hand side of the page.
Scroll down the page to the “Permission” section .
Here click on the “Settings” tab of the Notification option.
A pop up will open with all listed sites, select the option “ALLOW“, for the respective site under the status head to allow the notification.
Once the changes is done, click on the “Save Changes” option to save the changes.
Click it and Unblock the Notifications
Sign in with Google