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| Bitcoin climbs back above $42,000 after brutal cryptocurrency market selloff | Bitcoin climbs back above $42,000 after brutal cryptocurrency market selloff |
| (about 2 months later) | |
| The world’s top digital asset, bitcoin, is clawing back some the losses it sustained during the previous session, amid a massive cryptocurrency market selloff. | The world’s top digital asset, bitcoin, is clawing back some the losses it sustained during the previous session, amid a massive cryptocurrency market selloff. |
| Bitcoin rose above $42,000 per token, marking an 25% day-over-day growth as of 13:15 GMT, according the data tracked by CoinMarketCap. Its market value is currently around $750 billion. | Bitcoin rose above $42,000 per token, marking an 25% day-over-day growth as of 13:15 GMT, according the data tracked by CoinMarketCap. Its market value is currently around $750 billion. |
| Some of bitcoin’s rivals also moved to recovery on Thursday, with ether up 35% to just under $3,000, and dogecoin gaining more than 37% to $0.43. | Some of bitcoin’s rivals also moved to recovery on Thursday, with ether up 35% to just under $3,000, and dogecoin gaining more than 37% to $0.43. |
| Wednesday’s brutal selloff followed the announcement by Chinese regulators of plans to ban financial institutions and payment firms from providing services related to cryptocurrencies. | Wednesday’s brutal selloff followed the announcement by Chinese regulators of plans to ban financial institutions and payment firms from providing services related to cryptocurrencies. |
| The news sent the crypto market crashing as much as 30%, with bitcoin trading as low as $30,000 before paring some losses later in the day. | The news sent the crypto market crashing as much as 30%, with bitcoin trading as low as $30,000 before paring some losses later in the day. |
| The Chinese regulatory clampdown intensified the pressure that had been put on the crypto market by recent comments made by Tesla boss Elon Musk. | The Chinese regulatory clampdown intensified the pressure that had been put on the crypto market by recent comments made by Tesla boss Elon Musk. |
| Last week, Musk announced Tesla had suspended vehicle purchases with cryptocurrencies, due to environmental concerns. This led to speculation that the automaker may have sold its $1.5 billion in bitcoin holdings, something Musk later denied. | Last week, Musk announced Tesla had suspended vehicle purchases with cryptocurrencies, due to environmental concerns. This led to speculation that the automaker may have sold its $1.5 billion in bitcoin holdings, something Musk later denied. |
| On Wednesday, the billionaire entrepreneur took to Twitter again to post the “diamond hands” emoji, possibly implying that his company would not part with any of its bitcoin. | On Wednesday, the billionaire entrepreneur took to Twitter again to post the “diamond hands” emoji, possibly implying that his company would not part with any of its bitcoin. |
| For more stories on economy & finance visit RT's business section | For more stories on economy & finance visit RT's business section |