{"id":264659,"date":"2018-08-14T07:36:14","date_gmt":"2018-08-14T05:36:14","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=264659"},"modified":"2018-08-14T07:36:14","modified_gmt":"2018-08-14T05:36:14","slug":"bitcoin-is-back-below-6000-as-almost-everything-crypto-tumbles","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/banking\/264659\/bitcoin-is-back-below-6000-as-almost-everything-crypto-tumbles\/","title":{"rendered":"Bitcoin is back below $6,000 as almost everything crypto tumbles"},"content":{"rendered":"

Bitcoin dropped below $6,000 and dozens of smaller digital tokens tumbled as this month\u2019s selloff in cryptocurrencies showed few signs of letting up.<\/p>\n

The largest digital currency fell as much as 6.2% to $5,887 as of 10:44 a.m. in Hong Kong, the lowest level since June, according to Bloomberg composite pricing.<\/p>\n

Ether sank 12%, while all but one of the 100 biggest cryptocurrencies tracked by Coinmarketcap.com recorded declines over the past 24 hours.<\/p>\n

The total market capitalisation of cryptocurrencies dropped to $190 billion, from a peak of around $835 billion in January.<\/p>\n

While Bitcoin and its peers rallied in July on hopes that a Bitcoin-backed exchange-traded fund would attract new investors to the world of virtual currencies, US regulators have yet to sign off on multiple proposals for such a product.<\/p>\n

The letdown has coincided with growing concern that entrepreneurs who raised crypto-denominated funds via initial coin offerings are now cashing out of coins such as Ether.<\/p>\n

Bitcoin has now dropped about 23% in August, extending its retreat this year to 58%.<\/p>\n

\"\"<\/a><\/p>\n

\n

Read: Bitcoin dips below $7,000 as renewed exuberance fades<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin dropped below $6,000 and dozens of smaller digital tokens tumbled as this month\u2019s selloff in cryptocurrencies showed few signs of letting up.<\/p>\n","protected":false},"author":59,"featured_media":219467,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[961],"tags":[5537,26],"class_list":["post-264659","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-bitcoin","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/264659","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=264659"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/264659\/revisions"}],"predecessor-version":[{"id":264665,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/264659\/revisions\/264665"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/219467"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=264659"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=264659"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=264659"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}