Bitcoin Drops 5% Instantly Below $48,000... Dogecoin Plummets 10%
[Asia Economy New York=Correspondent Baek Jong-min] The cryptocurrency Bitcoin has plummeted once again. Dogecoin also saw a 10% drop, giving back a significant portion of its recovery.
According to CoinMarketCap, which shows cryptocurrency prices, at around 5:28 PM local time on the 25th, the price of Bitcoin fell more than 5% compared to 24 hours earlier, reaching $47,900.
Bitcoin fluctuated between $50,000 and $49,000 until 4:30 PM that day but suddenly turned into a sharp decline. After last week’s plunge triggered by the U.S. government's plan to increase capital gains tax rates and futures liquidation, Bitcoin seemed to stabilize in the $50,000 range but could not avoid another drop.
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Dogecoin, mainly invested in by individuals, fell 10%, trading around 24 cents. Dogecoin had recently sparked speculation controversy with a weekly increase of 400%, then plunged sharply, but showed extreme volatility by rising about 30% from its low point again.
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