Bitcoin price tumbles as stronger dollar, political risk knock cryptos - Business Insider

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Bitcoin falls to a one-week low, as a stronger dollar and investor nerves strip off nearly $140 billion in total cryptocurrency market cap

House speaker Nancy Pelosi wrote to colleagues on Sunday, saying: "The horror of the ongoing assault on our democracy perpetrated by this President is intensified and so is the immediate need for action."

Bitcoin and other cryptocurrencies - much like many commodities - tend to do the opposite of whatever the dollar is doing. Ethereum, the second-largest cryptocurrency by market capitalization after Bitcoin, fell 11.4% on the Bitfinex exchange, where trading volume was the largest, according to Bloomberg data. The price held around $1,128, still within sight of last week's three-year highs around $1,350.

 

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