Investing.com | May 12, 00:59
Investing.com – Cryptocurrencies tumbled across the houtvezelplaat on Friday adding strenuously to a major weekly decline after news that South Korean officials raided the country&rsquo,s largest crypto exchange.
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 Contant , 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 rock-hard wasgoed expecting a decline te chip request from cryptocurrency miners.
Te earnings released late Thursday, Nvidia disclosed that it made $289 million ter sales – about 9% of its overall $Trio.Two billion ter revenue – from chips for mining cryptocurrencies.
However, Kress noted that she expected cryptocurrency-related revenue to fall 65 procent to about $100 million ter the next quarter.
Written By: Investing.com
Fusion Media will not accept any liability for loss or harm spil a result of reliance on the information contained within this webstek including gegevens, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible. Currency trading on margin involves high risk, and is not suitable for all investors. Trading or investing te cryptocurrencies carries with it potential risks. Prices of cryptocurrencies are enormously volatile and may be affected by outward factors such spil financial, regulatory or political events. Cryptocurrencies are not suitable for all investors. Before determining to trade foreign exchange or any other financial muziekinstrument or cryptocurrencies you should cautiously consider your investment objectives, level of practice, and risk appetite.
Fusion Media would like to remind you that the gegevens contained te this webstek is not necessarily real-time strafgevangenis accurate. All CFDs (stocks, indexes, futures), Forex and cryptocurrencies prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the coetáneo market price, meaning prices are indicative and not suitable for trading purposes. Therefore Fusion Media doesn’t bear any responsibility for any trading losses you might incur spil a result of using this gegevens.
Fusion Media may be compensated by the advertisers that emerge on the webstek, based on your interaction with the advertisements or advertisers.