Bitcoin Price Falls $8K to 3-Week Low, Altcoins Crash
Bitcoin Price Falls $8K to 3-Week Low, Altcoins Crash: Bitcoin nosedived to a three-week low of $52,148 during Sunday's Asian hours. A woman uses a bank ATM next to a Bitcoin ATM machine at a shopping mall in Istanbul. Turkey’s central bank banned the use of cryptocurrencies and crypto assets for purchases, citing the risks of possible huge losses. Photograph: Chris McGrath/Getty Images. Omka Modbol Bitcoin nosedived to three-week lows early Sunday, puncturing the frenzied speculative bubble built into several alternative cryptocurrencies (altcoins) in the wake of Coinbase’s recent debut on Nasdaq. The biggest cryptocurrency by market value dropped from roughly $60,000 to $52,148 in 15 minutes during the Asian session, liquidating almost $4 billion worth of positions in the derivatives market, according to Messari's Ryan Watkins. While the exact reason for the sudden crash is unknown, the market mood may have soured due to rumors that the U.S. Treasury is pl...