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| Bitcoin plunges below $29,000 for first time this year | |
| (32 minutes later) | |
| The world’s top digital asset, bitcoin, has suffered a daily plunge of over 11%, dragging the cryptocurrency down to its lowest level this year – $28,993 as of 13:54 GMT on Tuesday, according to data tracked by CoinMarketCap. | |
| The plunge comes a day after the People’s Bank of China, in a further extension of its nationwide crackdown on cryptocurrencies, summoned banks and payment companies and ordered them to stop facilitating crypto transactions. | The plunge comes a day after the People’s Bank of China, in a further extension of its nationwide crackdown on cryptocurrencies, summoned banks and payment companies and ordered them to stop facilitating crypto transactions. |
| Bitcoin has lost over half its value since peaking above $64,000 in mid-April. | Bitcoin has lost over half its value since peaking above $64,000 in mid-April. |
| According to technical analysts, the next level to watch for support could now be as low as $20,000. | According to technical analysts, the next level to watch for support could now be as low as $20,000. |
| “$30,000 – we’ll see if it holds on the day. We might plunge below it for a while and close above it. If it’s really breached, $25,000 is the next big level of support,” Galaxy Investment Partners CEO Mike Novogratz told CNBC. | “$30,000 – we’ll see if it holds on the day. We might plunge below it for a while and close above it. If it’s really breached, $25,000 is the next big level of support,” Galaxy Investment Partners CEO Mike Novogratz told CNBC. |
| For more stories on economy & finance visit RT's business section | For more stories on economy & finance visit RT's business section |