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Bitcoin continues to tumble, drops down into $31,000 territory

Coinbase co-founder Fred Ehrsam: 'most' cryptos 'won't work' and '90% of NFTs' will have 'little to no value' in 3-5 years.

@anthony256
Published Mon, Jun 21 2021 10:28 PM CDT   |   Updated Tue, Jul 20 2021 6:03 AM CDT

The entire cryptocurrency market has tumbled, with Bitcoin down 20% in the last 24 hours -- losing $60 billion+ in market cap in the process.

Bitcoin continues to tumble, drops down into $31,000 territory 07 | TweakTown.com

Bitcoin took its huge tumble for a few different reasons: 90% of the crypto mining farms in China are winding down, China is clamping down on cryptocurrencies from all angles, and in the middle of it Bitcoin and every other crypto is being ripped a new one.

It's good to see the media not solely blaming Elon Musk for the streets being turned red with crypto blood, but things are beginning to turn green as I'm typing this news. Bitcoin dropped to $31,000 or so down from $36,000 or so 24 hours ago -- but bounced up from $31,000 up to $32,500 or so at the time of writing.

It's not just Bitcoin but all cryptocurrencies, with Dogecoin dropping 36% in the last 24 hours and reaching the lows of $0.17 but has bounced back up slightly to $0.18 and nearing $0.19 at the time of writing. Texas-based grocery store chain H-E-B has also announced it is rolling out crypto ATMs.

The new Coin Crypto ATMs will let Texans buy and sell cryptocurrencies including Bitcoin, Ethereum, Dogecoin and others -- as well as DeFi tokens and more. The entire cryptocurrency market dropping right now is just how it is, with a trillion-and-one different factors that don't stop as the market is 24/7.

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NEWS SOURCE:coindesk.com

Anthony joined the TweakTown team in 2010 and has since reviewed 100s of graphics cards. Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering.

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