By Samuel Alioto
Observer Staff Writer 

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

Crypto prices on Coinbase, 7:40 pm PST Sunday night Jan. 10, 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.

Ripple signed a deal with the Saudi National Bank even as the US SEC filed a lawsuit against them.

 

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