Available 7 Days/Week       MON - FRI  8am - 7pm       SAT - SUN  10am – 6pm
Call us (239) 466-0400
Apply Now

Bitcoin suffers flash crash following week of crypto hype

  (CNN) — After a hype-filled week for cryptocurrencies, Bitcoin experienced a flash crash over the weekend, plunging nearly 14% in less than an hour, from about $59,000 to $51,000, on Saturday night before rebounding. Other popular cryptocurrencies including etherium and Dogecoin also fell dramatically, before recouping some of their losses.

Bitcoin has skyrocketed in value this year as it gained more mainstream acceptance, but the sharp price fall this weekend seems to have been triggered by an unconfirmed Twitter rumor that the US Treasury was planning to crack down on money laundering schemes involving cryptocurrencies. The agency did not immediately respond to a request for comment on Sunday.

Bitcoin’s rapid overnight plunge is the latest indicator that the crypto market remains wildly volatile.

Last week crypto enthusiasm seemed to reach a peak as trading platform Coinbase went public at a valuation of $86 billion, followed by a wild 500% rally in Dogecoin — an asset that was created as a joke in 2013. Cryptocurrency backers have spent years insisting that bitcoin, ethereum and other digital coins could revolutionize the world of finance, and with the success of Coinbase’s Wall Street debut Wednesday, those backers are finally having their moment.

Tesla has started accepting bitcoin payments for its cars and now holds some of the digital currency on its balance sheet. Payment processors including PayPal, Mastercard and Visa are trying to streamline crypto payments on their networks. Meanwhile, Goldman Sachs will reportedly soon offer its private wealth management clients avenues to invest in bitcoin and other digital currencies and Morgan Stanley announced that it will offer its wealthy clients access to bitcoin funds.

The-CNN-Wire
™ & © 2021 Cable News Network, Inc., a WarnerMedia Company. All rights reserved.

The post Bitcoin suffers flash crash following week of crypto hype appeared first on NBC2 News.

NBC2 (WBBH-TV)

#marcoislandmortgage, #marcoislandmortgagerates, #mortgagemarcoisland, *Top News, bitcoin, News

*Assumes 2.799% APR, 20% down payment, and conforming 30-year fixed rate first mortgage on a single family, primary residence. The monthly payment you enter includes only principal and interest. Additional required amounts such as taxes, insurance, home owner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Not all individuals will qualify for a mortgage loan based on the payment entered. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice.  **Posted APR is based on Mortgage Assumptions
 
Copyright © 2021 Fidelity Home Group supports Equal Housing Opportunity | All Right Reserved  | NMLS Identifier 1834853. Fidelity Home Group is not affiliated with the Department of Housing and Urban Development (HUD) or the Federal Housing Administration (FHA). Not intended for legal or financial advice, consult your own professionals if such advice is sought. Accessibility Statement  | Consent to Receive Electronic Loan Documents  |  Cookies Policy   |  Disclosures  | Email and Mobile PolicyFair Lending Policy  |  Mortgage Assumptions  |  NMLS Consumer Access  |  Privacy Policy  |  Terms of Use