{"id":229822,"date":"2021-04-18T18:18:00","date_gmt":"2021-04-18T15:18:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/coinbase-hangover-heres-why-bitcoin-may-be-suffering-its-steepest-slide-since-february\/"},"modified":"2021-04-18T18:18:00","modified_gmt":"2021-04-18T15:18:00","slug":"coinbase-hangover-heres-why-bitcoin-may-be-suffering-its-steepest-slide-since-february","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/coinbase-hangover-heres-why-bitcoin-may-be-suffering-its-steepest-slide-since-february\/","title":{"rendered":"#\n  Coinbase hangover? Here\u2019s why bitcoin may be suffering its steepest slide since February"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3df354b15e6\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3df354b15e6\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/coinbase-hangover-heres-why-bitcoin-may-be-suffering-its-steepest-slide-since-february\/#Bitcoin_prices_are_in_correction_down_nearly_14_from_its_recent_peak_on_CoinDesk\" >Bitcoin prices are in correction, down nearly 14% from its recent peak on CoinDesk<\/a><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/coinbase-hangover-heres-why-bitcoin-may-be-suffering-its-steepest-slide-since-february\/#Crypto_euphoria\" >Crypto euphoria<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/coinbase-hangover-heres-why-bitcoin-may-be-suffering-its-steepest-slide-since-february\/#Crackdown_Or_%E2%80%98FUD\" >Crackdown? Or \u2018FUD\u2019<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/coinbase-hangover-heres-why-bitcoin-may-be-suffering-its-steepest-slide-since-february\/#Coinbase_hangover\" >Coinbase hangover?<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/coinbase-hangover-heres-why-bitcoin-may-be-suffering-its-steepest-slide-since-february\/#Mark_DeCambre\" >Mark DeCambre<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#<br \/>\n  Coinbase hangover? Here\u2019s why bitcoin may be suffering its steepest slide since February<br \/>\n<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"Bitcoin_prices_are_in_correction_down_nearly_14_from_its_recent_peak_on_CoinDesk\"><\/span>\n  Bitcoin prices are in correction, down nearly 14% from its recent peak on CoinDesk<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div class=\"cx--next\">\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000236403\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       Bitcoin prices were sinking into correction territory Sunday morning, marking the sharpest slide for the digital asset since February, coming on the heels of what has been a remarkable stretch for the crypto industry. <\/p>\n<p> At last check, bitcoin prices<br \/>\n        BTCUSD,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/31322028\/realtime\" class=\"negative\">-14.69%<\/bg-quote><br \/>\n       late-morning Sunday were at $55,773.11 down nearly 14% from a recent peak on CoinDesk $64,829.14. The decline from the crypto\u2019s apex meets the widely accepted definition of a correction in an asset.<\/p>\n<div class=\"paywall\">\n<div data-layout=\"inline\n                \" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetDynamic\n            inline\n    scope-web|mobileapps\n  article__inset\n          article__inset--type-InsetDynamic\n            article__inset--inline\n  \"><\/p>\n<div class=\"dynamic-inset-container article__inset__dynamic\">\n<div id=\"chart_be66a41de021545e1b1f1077\"><\/div>\n<p><script>\n(function () {\n  function createChart() {\n    var CHART_ENGINE_NAME = 'CustomDataChart_MARKETWATCH_0_8_60';\n    var definitions = {};\n    function loadScript(src) {\n      var script = document.createElement('script');\n      script.setAttribute('src', src);\n      document.body.appendChild(script);\n    }\n    function checkIfScriptsAreComplete() {\n      for (var key in definitions) {\n        if (definitions.hasOwnProperty(key)) {\n 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The last time crypto skid decisively lower comments from Treasury Secretary Janet Yellen at a New York Times DealBook conference were blamed for the slump.<\/p>\n<p>This time around, market participants continue to be haunted by the specter of a crack down by the Treasury but are also listing a few other possible causes for bitcoin\u2019s correction. <\/p>\n<p><strong>Read:<\/strong> Crypto for the long term: what\u2019s the outlook?<\/p>\n<h6><span class=\"ez-toc-section\" id=\"Crypto_euphoria\"><\/span>Crypto euphoria<span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p>Some industry participants point to a rise in speculative assets like dogecoin as indications that the digital asset market is getting hyped and vulnerable to a retreat. Dogecoin prices had rocketed more than 7,252% year-to-date at their recent peak.<\/p>\n<p>Galaxy Digital<br \/>\n        GLXY,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/201509411\/delayed\" class=\"positive\">+7.59%<\/bg-quote><br \/>\n      CEO Michael Novogratz says that although he sees bitcoin reaching $100,000 by the end of 2021 and $500,000 by 2024, he believes that the market will be marked by turbulence that he feels is highlighted by frenzied <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>etite for assets like dogecoin<br \/>\n        DOGEUSD,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/226077044\/realtime\" class=\"positive\">+8.89%<\/bg-quote><span>,<\/span><br \/>\n       which was originally created as a parody to bitcoin and is viewed by some as possessing limited utility.  <\/p>\n<p><strong>See<\/strong>: Who\u2019s laughing now? Dogecoin\u2019s epic surge creating overnight millionaires<\/p>\n<p>Novogratz said that the list of crypto platform Coinbase Global<br \/>\n        COIN,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/225893452\/composite\" class=\"positive\">+5.96%<\/bg-quote><br \/>\n       listing has fueled \u201ca lot of frenzy\u201d around dogecoin and added that \u201cthat never ends well,\u201d speaking at virtual event hosted by MarketWatch and Barron\u2019s on Wednesday. <\/p>\n<h6><span class=\"ez-toc-section\" id=\"Crackdown_Or_%E2%80%98FUD\"><\/span>Crackdown? Or \u2018FUD\u2019<span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p>Others pointed to the dissemination of fear, uncertainty and doubt, or FUD, as the crypto community describes it. <\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-04-18\/bitcoin-falls-as-much-as-15-biggest-intraday-drop-since-feb?srnd=premium\" class=\"icon none\">Bloomberg News reported<\/a> that further speculation about a crypto crackdown by the U.S. Treasury Department tied to the use of digital assets for money laundering, without specific details, also was weighing on prices. <\/p>\n<h6><span class=\"ez-toc-section\" id=\"Coinbase_hangover\"><\/span>Coinbase hangover?<span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p>Some market participants have suggested that the highly anticipated Coinbase listing on Nasdaq Inc.<br \/>\n        NDAQ,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/205547889\/composite\" class=\"positive\">+0.07%<\/bg-quote><br \/>\n       would prove a new top for the crypto market and put prices under pressure after a precipitous rally in recent days and a fresh record for bitcoin early last week. <\/p>\n<p><strong>Check out<\/strong>: Coinbase IPO: Everything you need to know about the \u2018watershed moment\u2019 in crypto<\/p>\n<p>Yves Lamoureux, the president of Montreal-based macroeconomic research firm Lamoureux &amp; Co., told MarketWatch that he was fearful that euphoria surrounding bitcoin and crypto and saw them due for a retrenchment as a result. \u201cCan you find out there anyone with a bearish viewpoint?\u201d he asked. \u201cA resounding no,\u201d he responded.<\/p>\n<p><strong>Read:<\/strong> Coinbase IPO is a huge score for the crypto platform\u2019s\u201dWho\u2019s Who\u201d list of private-equity investors<\/p>\n<p>In any case, bitcoin prices remain elevated on the back of growing attention from traditional investors. Several high-profile Wall Street players, including Stanley Druckenmiller and Paul Tudor Jones, have embraced bitcoin. Famed investor Bill Miller, founder of Miller Value Partners, in\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/millervalue.com\/bill-miller-4q-2020-market-letter\/?utm_source=enews&amp;utm_campaign=market\" class=\"icon none\">a letter to clients<\/a> on the firm\u2019s website, that reaffirmed his bullish outlook on bitcoin.<\/p>\n<p>Bitcoin prices are up around 90% so far this year. By comparison, gold prices<br \/>\n        GC00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210034565\/delayed\" class=\"negative\">-0.16%<\/bg-quote><span>,<\/span><br \/>\n       considered a rival to bitcoin, were off over 6% so far in 2021, and more traditional securities were seeing comparatively more pedestrian returns. The Dow Jones Industrial Average<br \/>\n        DJIA,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210598065\/realtime\" class=\"positive\">+0.48%<\/bg-quote><br \/>\n       and the S&amp;P 500<br \/>\n        SPX,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210599714\/realtime\" class=\"positive\">+0.36%<\/bg-quote><br \/>\n       are up more than 11% in the year to date, while the Nasdaq Composite Index<br \/>\n        COMP,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210598365\/realtime\" class=\"positive\">+0.10%<\/bg-quote><br \/>\n       is up 9%. <\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>      <span>By<\/span><\/p>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Mark DeCambre\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Mark_DeCambre\"><\/span>Mark DeCambre<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B21005575-02D4-D4B5-4572-D39B732C2D70%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Coinbase hangover? Here\u2019s why bitcoin may be suffering its steepest slide since February &#8221; Bitcoin prices are in correction, down nearly 14% from its recent peak on CoinDesk Bitcoin prices were sinking into correction territory Sunday morning, marking the sharpest slide for the digital asset since February, coming on the heels of what has&#8230;<\/p>\n","protected":false},"author":1,"featured_media":229823,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-229822","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/229822","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=229822"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/229822\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/229823"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=229822"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=229822"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=229822"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}