ToplineAfter a run-up in prices ushering in Coinbase's long-awaited market debut earlier in the week, the cryptocurrency market plummeted early Sunday after blackouts in China led to massive declines in bitcoin's mining rates—tanking prices and spurring billions of dollars in liquidations. The market is already on the mend, but bitcoin prices are still down about 10%. The price of bitcoin has plunged about 12% since the hash rate started falling, but is still up a staggering 750% this year. "The challenge [with] bitcoin is how widely will it be adopted—right now, it's clear it's a store of value," Kaplan said. Further ReadingBitcoin Mining Hash Rate Drops As Blackouts Instituted In China (Nasdaq)Dogecoin Skyrockets To All-Time Highs Reaching $52.2 Billion Market Cap As Robinhood App Reports Outage Issues Due To Heavy Cryptocurrency Trading (Forbes)

Source: Forbes April 18, 2021 14:03 UTC