Bitcoin‘s price continues to suffer after one of the most severe price crashes in its history this week, with the wider crypto market finally stabilising.
Ethereum (ether), Cardano (ada) and dogecoin have all remained relatively calm overnight, after Elon Musk once again committed his belief in the latter. It followed the statement – in the form of emoji – that Tesla would not be selling its substantial bitcoin holdings.
The initial crash on Wednesday was prompted by an announcement from regulators in China that cryptocurrency payments would be banned, though individuals in the country will still be permitted to own cryptocurrencies.
The news saw bitcoin fall below $31,000 – less than half the all-time high price that it reached in mid April – before recovering to around $40,000 on Thursday.
Cryptocurrency experts and market analysts appear divided over whether this crash is similar in magnitude to the one seen in 2017/18, or simply a price correction on the way to new record highs in 2021. We’ll have all the latest updates, as well as a Q&A session where you have the chance to ask our experts anything.