{"id":344454,"date":"2021-09-22T16:43:15","date_gmt":"2021-09-22T13:43:15","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-down-12-percent-this-week-as-stock-market-wobbles\/"},"modified":"2021-09-22T16:43:15","modified_gmt":"2021-09-22T13:43:15","slug":"bitcoin-down-12-percent-this-week-as-stock-market-wobbles","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-down-12-percent-this-week-as-stock-market-wobbles\/","title":{"rendered":"#Bitcoin down 12 percent this week as stock market wobbles"},"content":{"rendered":"<p>&#8220;<strong>#Bitcoin down 12 percent this week as stock market wobbles<\/strong>&#8221;<\/p>\n<div>\n<aside class=\"single__inline-module alignleft\">\n        <\/aside>\n<p>Bitcoin\u2019s rough week just keeps getting worse.<\/p>\n<p>The notoriously volatile cryptocurrency was changing hands around $42,100 Wednesday morning, down 2.8 percent over the previous 24 hours and a whopping 12 percent since Sunday.\u00a0<\/p>\n<p>That\u2019s the lowest sustained bitcoin price since early August, according to Coinbase data.<\/p>\n<p>Bitcoin\u2019s decline comes amid a broader stock market pullback related to concerns about a potential collapse of heavily-indebted Chinese developer Evergrande Group.\u00a0<\/p>\n<p>The Dow Jones Industrial Average had fallen about 1.9 percent between Friday and Tuesday, and rose more than 200 points on Wednesday in opening trades, recently at 34,126.49. The S&amp;P 500 is down 1.8 percent and the Nasdaq Composite lost 2 percent of its value this week.<\/p>\n<p>While bitcoin evangelists argue that investors should buy the cryptocurrency as a gold-like \u201csafe haven\u201d in times of stock market turmoil, other analysts say that bitcoin\u2019s decline this week shows instead that it is like any other highly risky asset.\u00a0Gold prices, meanwhile, have risen this week in response to the Evergrande crisis.<\/p>\n<p>\u201cBitcoin\u2019s decline today doesn\u2019t seem to be related to anything specific to Bitcoin or cryptocurrencies,\u201d said Anthony Denier, CEO of crypto trading platform Webull. \u201cToday\u2019s decline in the crypto market is because investors are moving to a risk-off strategy.\u201d\u00a0<\/p>\n<figure class=\"wp-block-image size-large is-style-default\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"469\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/bitcoin-65.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"A chart showing bitcoin's price falling.\" class=\"wp-image-19538911\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/bitcoin-65.jpg?quality=90&amp;strip=all&amp;w=1536 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/bitcoin-65.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/bitcoin-65.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Bitcoin is at its lowest sustained price since early August.<\/figcaption><figcaption><span class=\"credit\">Google Finance<\/span><\/figcaption><\/figure>\n<p>Denier told The Post that this pattern \u201ccalls into question the claim that bitcoin is a safe-haven asset.\u201d\u00a0<\/p>\n<p>While bitcoin is the most popular and closely watched digital coin, other cryptocurrencies have had even rougher weeks.<\/p>\n<p>As of Wednesday morning, Ethereum was trading at $2,912 \u2014 a 4.3 percent decline over the past 24 hours and 15.2 percent over the past week. Meanwhile, Cardano was going for $2.11 \u2014 down 3.4 percent over the previous 34 hours and 12.2 percent over the past week.\u00a0<\/p>\n<p>Other factors affecting crypto markets include the specter of a crackdown from Gary Gensler\u2019s Securities and Exchange Commission and the Federal Reserve policy upcoming statement this afternoon. If the Fed signals it plans to taper its bond-buying program that has helped prop up markets during the pandemic, markets could be in for more trouble.\u00a0\n                        <\/p><\/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=\"https:\/\/nypost.com\/2021\/09\/22\/bitcoin-down-12-percent-this-week-as-stock-market-wobbles\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Bitcoin down 12 percent this week as stock market wobbles&#8221; Bitcoin\u2019s rough week just keeps getting worse. The notoriously volatile cryptocurrency was changing hands around $42,100 Wednesday morning, down 2.8 percent over the previous 24 hours and a whopping 12 percent since Sunday.\u00a0 That\u2019s the lowest sustained bitcoin price since early August, according to Coinbase&#8230;<\/p>\n","protected":false},"author":1,"featured_media":344455,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/bitcoin-2.jpg?quality=90&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[74862,116359,76127,73977,72388],"class_list":["post-344454","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-9-22-21","tag-cryptocurrency","tag-dow-jones-industrial-average","tag-stock-market"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/344454","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=344454"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/344454\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/344455"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=344454"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=344454"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=344454"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}