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Even Cryptocurrencies Are Getting Clobbered In Today's Market Selloff
Bitcoin is quickly loosing the refuge designation bestowed by some advocates in recent weeks as the largest cryptocurrency joins the global slide in riskier assets. Smaller rivals tumbled even further. After rallying while U.S. equities plunged earlier in the month, Bitcoin has followed stocks lower, with the digital asset tumbling about 15% this week to push it’s price to around $10,100. The token, which last traded below $10,000 on Aug. 1, had climbed as high as $13,852 on June 26. Ether slumped as much as 12% Wednesday, while XRP slumped as much as 20%. “Predictably and rationally, Bitcoin gave back much of ... (full story)
