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Cryptocurrencies lost close to $US100 billion overnight into Friday morning, with the flagship bitcoin sinking as low as $US7,720 per coin.
Most cryptos seem to be making a comeback though and are up from their morning lows, with bitcoin down less than 1% on the last 24 hours and back above $US9,000 at the time of writing.
Here are the current standings:
- Bitcoin (BTC): $US9,071 (-0.1%)
- Ethereum (ETH): $US961 (-6.1%)
- Ripple (XRP): $US0.93 (-1.5%)
- Bitcoin Cash (BCC): $US1,212 (-4.2%)
- Litecoin (LTC): $US133 (-5.7%)
What else is happening:
- The bitcoin crash is a blessing in disguise for the US financial system.
- “The mother of all bubbles and biggest bubble in human history comes down crashing,” Nouriel Roubini, economist and chairman of Roubini Macro Associates, said.
- South Korea’s defence ministry is taking steps to keep soldiers from getting caught up in the cryptocurrency frenzy.
- Two economists just eviscerated bitcoin, saying it should be trading at $US20.
- The iced tea company that said it would buy 1,000 bitcoin mining machines is backpedaling on its plans.
- Ripple’s CRP tumbled to its lowest price in months.
- Ethereum sank to its lowest prices of 2018.
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