LONDON, United Kingdom — The price of bitcoin fell sharply on Tuesday, approaching a symbolic $30,000 threshold it has not crossed since January and dragging other cryptocurrencies in its wake. At around 15:45 GMT, bitcoin fell 8.6% to a value of $31,501, a level not seen since mid-May, when the volatile cryptocurrency temporarily lost 30% in one session. Trading View/Philstar.com screenshot The value of bitcoin sank nearly 50% from a new high in April as seen in this chart as Wednesday morning, June 9, 2021. Between the beginning of last year and a peak in mid-April of $64,870, the price of bitcoin gained nearly 800%. The British fund Ruffer, which has a reputation for prudence, caused a stir when it invested in bitcoin in November.

Source: Philippine Star June 09, 2021 03:11 UTC