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Bitcoin (BTC) falls below $30,000 as cryptocurrency market plunges

A representations of virtual currency Bitcoin is seen in front of a stock graph in this illustration taken May 19, 2021.

Dado Ruvic | Reuters

The price of bitcoin dropped below $30,000 late Monday night for the first time since Jun. 22, dragging other digital coins lower with it.

Bitcoin is trading in the $29,000 range, about 3% lower on the day, according to Coin Metrics. Ether is down 1.25% and XRP fell 4%. Even with the plunge bitcoin is up 2.3% for the year, according to CoinDesk data. Ether and XRP are both up about 140% for the year.

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Bitcoin price falls 6% as cryptocurrencies slide

Bitcoin was trading lower by more than 6% on Thursday morning.

The price was around $32,920 per coin, while rivals Ethereum and Dogecoin were trading around $2,200 and 21 cents per coin, respectively, according to Coindesk.

The Securities and Exchange Commission wants more time to review SkyBridge Capital’s application for a bitcoin exchange-traded fund, according to a filing by the U.S. regulatory agency and reported by Coindesk.

The SEC has extended the initial 45-day review period to Aug. 25. Anthony Scarammuci’s SkyBridge Capital

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Special taxing authority considered to finance infrastructure in ambitious West Falls Church mixed-use project

Falls Church is looking to set up a new governing authority to handle some of the finances for its ambitious West Falls Church Economic Development Project — a new mixed-use development the city hopes can rival the nearby Mosaic District in Merrifield.

The new Community Development Authority (CDA) will be financially-focused, aimed at administering the bonds and debt service for local projects, as well as imposing special taxes on businesses within its zone.

The West Falls CDA will be the first of its kind created in Falls Church, though similar CDAs are in place in Ballston Quarter in Arlington and

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Bitcoin falls below $50k as Biden tax plans spark crypto sell-off

Bitcoin crashed 10% to $49,332 (£68,482) on Friday morning in London, Ethereum slumped 11% to $2,227 after hitting record highs of £2,613 on Thursday. Photo: Getty

Crypto markets pulled back sharply after reports US president Joe Biden is planning to raise capital gains tax for the wealthy.

Bloomberg reported on Thursday that Biden is considering nearly doubling tax to as high as 39.6%, an increase from the current 20%. Cryptocurrency investors face higher taxes if Biden presses ahead. 

Bitcoin (BTC-USD) crashed 10% to $49,332 (£68,482) on Friday morning in London, Ethereum (ETH-USD) slumped 11% to $2,227 after hitting record highs

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