Trading or investing te cryptocurrencies carries with it potential risks.

Investing.com | May 12, 00:59

Investing.com – Cryptocurrencies tumbled across the houtvezelplaat on Friday adding strongly to a major weekly decline after news that South Korean officials raided the country&rsquo,s largest crypto exchange.

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Bitcoin sank 7.90% ter the last 24 hours to reach $8,602.20 on the Bitfinex exchange by Ten:46AM ET (14:46GMT), the largest crypto by market capitalization has lost 12.7% so far this week after an attack at the $Ten,000 level last Saturday petered out at $9,990.

Major rival Ethereum slipped Ten.2% to $682.54 te the last 24 hours, bringing weekly losses to 16.7%.

Ripple tumbled 13.2% to $0.69200, upping the weekly decline to 23.5%, while Bitcoin Metselspecie , product of the Bitcoin fork and the fourth largest cryptocurrency by market capitalization, plunged 13.7% to $1,419.00 but still showcased a Nineteen.5% fall for the week.

While cryptocurrencies have seen severe selling pressure this week amid a series of negative comments from high profile investors, news that South Korean prosecutors raided the country’s largest cryptocurrency exchange, Upbit, on Thursday and Friday seemed to derail any possibility of a recovery.

According to the Yonhap news agency, the raid wasgoed undertaken due to suspicion of fraud.

Te other news that may reflect waning rente ter digital currencies, Nvidia&rsquo,s chief financial officer Colette Kress commented that the stiff wasgoed expecting a decline ter chip request from cryptocurrency miners.

Ter earnings released late Thursday, Nvidia disclosed that it made $289 million te sales – about 9% of its overall $Trio.Two billion te revenue – from chips for mining cryptocurrencies.

However, Kress noted that she expected cryptocurrency-related revenue to fall 65 procent to about $100 million te the next quarter.

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Written By: Investing.com

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3 thoughts on “Trading or investing te cryptocurrencies carries with it potential risks.

  1. It wasgoed good to hear the news. Hopefully this will not toebijten ter future. I think the Exchenger will more stronger te the future.

  2. There is no reason for the webpagina to be offline for 24 hours, even if they have an significant maintanance work to do, they atleast need to keep the trading toneelpodium up and to disable withdrawals and deposits if they have a problem with them.

  3. I could loom ter to Binance yesterday, when it wasgoed ‘down’ for maintenance. All it said wasgoed that trading wasgoed not available. But now, I can’t even get the pagina to flow. Could it be that too many people are attempting to loom on at merienda? I hope that’s the reason, and nothing more sinister than that!

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