Bitcoin price steadies after dramatic fall wiped billions off the value of the cryptocurrency
The i says the price of bitcoin steadied on Wednesday after steep falls on Tuesday wiped billions of dollars off the value of cryptocurrencies.
Bitcoin dropped in price from above $52,000 (£37,744) to below $43,000 on Tuesday following problems with its adoption as legal tender in El Salvador. It recovered to around $46,000 but was still well down on the previous day’s peak.
Ether, the second biggest cryptocurrency by market value, also fell by as much as 5 per cent before rebounding early yesterday to $3,390, a two-day fall of about 14 per cent, Bloomberg data showed.
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