Bitcoin Falls Back to $33,000, as Dollar Rises and Temperatures Fall From Last Weeks Capitol Riot
The crypto-currency may have risen as the US seemed in a near insurrection on January 6th.
January 13, 2021
1/10/21: Bitcoin sank to a low of $32,500 per bitcoin, in a sudden 20% overnight decline. The world's first crypto-currency (symbol BTC), could fall all the way back to 23,000 which is where it started this week's rally. The crypto-currency may have risen as the US seemed in a near insurrection on January 6th.
Bloomberg news reports that just 40 billionaire bitcoin holders, own 95% of the crypto-currency bitcoin. This could limit the damage on the downside, and may present a buying opportunity for retail investors.
Other crypto-currencies were also down. Ripple, which has fallen 70% in recent weeks after the SEC sued the company behind Ripple, has fallen 20% further this evening. Coinbase plans to discontinue Crypto trading on their platform, on January 21, 2021.
Separately, Reuters reports that the national bank of Saudi Arabia has announced a deal with Ripple's crypto company, to help the Kingdom's banks settle payments using blockchain. https://www.reuters.com/article/us-saudi-cenbank-currency-idUSKCN1FZ0LD
Ripple (XRP) was still down 15% on the day.