[2023-08-1] The Independent: Bitcoin price dramatically crashes amid market...

[pawel7777]

Scary title, but the article is pretty neutral and says this drop is not specific to Bitcoin and it's just a result of the broader economy that hit the traditional assets as well.

Bitcoin price dramatically crashes amid market worries

https://www.independent.co.uk/tech/bitcoin-rush-price-cryptocurrency-crash-b2395945.html

Bitcoin’s price has crashed dramatically, amid what seems to be a broader worry in the financial markets.

The world’s biggest cryptocurrency has fallen more than 7 per cent over the last 24 hours, and almost 12 per cent in the last week.

Other large digital currencies saw similar falls, though not as stark. Ethereum, the second biggest cryptocurrency by market cap, has lost around 10 per cent of its value in the last week.

The troubles mean that the crypto market as a whole is down 5.7 per cent over the last 24 hours, according to tracking website Coinmarketcap. Trading volumes increased sharply, too, and were up almost 80 per cent over the last 24 hours.

Thursday’s drop in the price of the cryptocurrency was the biggest one day fall since November 2022. That happened when large exchange FTX collapsed, sending shockwaves through the crypto markets and leading to widespread fears.
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[Lucius]

How can anyone be serious and say that 12% is something dramatic when it comes to Bitcoin? What would you call the time when it lost even 50% of its value in one day?

If you don't have anything smarter to publish, then don't bother us with third-rate journalism to fulfill your signature quota

[pawel7777]

If you don't have anything smarter to publish, then don't bother us with third-rate journalism to fulfill your signature quota

If reading guidelines is too much for you, maybe you shouldn't be here in the first place.
This board is meant for sharing Bitcoin-related hits from the mainstream press whether you agree with them or not. So don't spam my topics with your pseudo-righteous, butt-hurt content.

The Press board replaces the Bitcoin press hits, notable sources thread.  The original motivation of the thread was to collect links that fit Wikipedia's definition of Notability.  Once bitcoin was deemed sufficiently notable (a milestone!), the thread became an ongoing log of links.  Discussion was discouraged.
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The main goal is to keep the noise down.