The price of Bitcoin plunged below $30,000 as trading across several companies opened in the negative. CryptoPotato noted in a report that Bitcoin declined 7% earlier today to $29,150. At press time, Bitcoin is down 2.74% to $31,296.43.
The report also said that Ethereum (ETH) earlier dropped to $1,205 on Bitstamp. At the time of writing, ETH is down 7.45% to $1,229.57, according to data by CoinMarketCap.
CryptoPotato stated that the entire market seemed to correct today, as the entire crypto market value dropped to $880 billion. NASDAQ’s Composite Index opened trading at a decline of about 2%, followed by the S&P 500. NASDAQ is currently at $24,459.28, a 2.03% loss over its previous close of $13,626.06. S&P 500 Index is currently down 2.44%.
The CEO of NASDAQ, Adena Friedman, commented on the “increased social media chatter” following GameStop’s parabolic increase. In a separate report by CryptoPotato, the CEO said:
“When we evaluate how we would manage through a situation where you see a significant run-up with a stock that is not based on news or fundamentals, we have technology that evaluates social media chatter, and if we see a significant rise in the chatter on social media channels and we also match that up against unusual trading activity – we will potentially halt that stock.”
Image Credits: Pixabay
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