Another $6 Billion of Value wiped Out of Bitcoin in a Day

Written by:
Aaron Goldstein
Published on:
Oct/12/2018

Cryptocurrencies, which today accounts for upwards of 70% of all online gambling transactions in the North American market, lost approximately $6 billion of its value in a single day Thursday.

XRP and ethereum led the plunge as prices of many digital coins continued falling. Bitcoin stabilized, however, after seeing a big drop on Thursday.  As of Friday morning, Bitcoin was trading just over $6200.

There was no obvious single catalyst for the cryptocurrency sell-off, but negative comments about cryptocurrencies have recently come from major economists and financial institutions, CNBC reported.

"Crypto is the mother or father of all scams and bubbles," Nouriel Roubini, an economist who predicted the 2008 financial crisist, old the U.S. Senate Committee on Banking, Housing and Community Affairs at a hearing on Thursday.

Financial markets overall have been taking a beating in recent days with the Dow falling more than 5% this week, its worst performance since March.

- Aaron Goldstein, Gambling911.com

 

Business/Financial News

PricePerPlayer Puts More Dollars in Your Pocket as a Bookie

The primary reason that someone goes into business is to make a profit selling a product or service. The main reason why so many people fail at accomplishing this goal is the lack of having the proper business tools to turn their dream into a reality. 

'Bitcoin Jesus' Fights Extradition Back to US

“They don’t like me, and they don’t like my political views, and they just came at me every which way,” Ver told Bloomberg News in an exclusive interview in late October.

Syndicate

Subscribe to Syndicate
More