Tag Archives: cryptocurrencies

Bitcoin keeps plunging — when will it hit bottom? | CNN

The recent plunge in the stock market is a cakewalk compared to what’s going on with cryptocurrencies. Bitcoin prices are down more than 15% in just the past week and have plummeted nearly 70% so far this year.

Bitcoin hit a peak above $19,000 in December 2017. Its is now trading at around $4,600.

Shares of companies with ties to the crypto market have plunged lately too, including chipmakers Nvidia (NVDA) and AMD (AMD), which make graphics cards used by bitcoin miners. Online retailer turned blockchain investor Overstock (OSTK) and digital payments firm Square (SQ) are also sharply lower. Each stock is down between 15% and 35% in just the past month.

So it seems safe to say that the bitcoin bubble has burst. Should investors start to dip their toe back in to bitcoin and other crypyto-related assets?

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Bad News Day for Bitcoin: It’s Destroying the World and Bank Accounts | Entrepreneur

Even though cryptocurrencies technically have no physical presence, they really do a make a impact on the environment — and even could affect the amount of money people have in their accounts.

From January 2016 to June 2018, the Oak Ridge Institute for Science and Education in Cincinnati monitored how much energy it took to mine Bitcoin, Ethereum, Litecoin and Monero on a daily basis.

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