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News ID: 90698
Publish Date : 28 May 2021 - 21:51
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NEW YORK (Dispatches) - The price of bitcoin took another hit on Friday as other cryptocurrencies including ether and doge also saw their values fall.
Bitcoin was trading at $35,292 at around 8 a.m. ET and has fallen over 9% in the previous 24 hours, according to data from Coin Metrics.
The world’s most popular cryptocurrency has been trying to recover after a week of turmoil that saw its price tumble 30% to around $30,000 last week.
It briefly climbed back above $40,000 on Wednesday before losing some of those gains.
Elsewhere, ethereum’s price has fallen around 12% in 24 hours to $2,426 a coin, while dogecoin’s price has fallen around 8% to 3 cents.
Cryptocurrencies continue to divide opinion. In a 41-page note last week, Goldman analysts shared their views on whether the likes of bitcoin and ethereum should be considered an asset class or not.
The latest price falls comes a day after longtime bitcoin bull Cathie Wood, founder and CEO of Ark Investment Management, argued that bitcoin has a place in the world of deflation.

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