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" [ad_1]\r\n<br><div id=\"content-main\"><section class=\"social-sharing-top\"><p><span class=\"fb-but1\"><i class=\"fa fa-facebook fa-2\"/></span><span class=\"social-text\">Share</span></p> <a rel=\"nofollow\" href=\"https://www.pymnts.com/#\" onclick=\"window.open('https://twitter.com/share?text=Bitcoin Stock Crests $10K But Not For Long -&url=https://www.pymnts.com/blockchain/bitcoin/2020/bitcoin-stock-crests-10k-but-not-for-long/', 'twitterShare', 'width=626,height=436'); return false;\" title=\"Tweet This Post\"><p><span class=\"twitter-but1\"><i class=\"fa fa-twitter fa-2\"/></span><span class=\"social-text\">Tweet</span></p></a> <p><span class=\"whatsapp-but1\"><i class=\"fa fa-whatsapp fa-2\"/></span><span class=\"social-text\">Share</span></p> <p><span class=\"linkedin-but1\"><i class=\"fa fa-linkedin fa-2\"/></span><span class=\"social-text\">Share</span></p> <p><span class=\"stumbleupon-but1\"><i class=\"fa fa-stumbleupon fa-2\"/></span><span class=\"social-text\">Share</span></p> <p><span class=\"print-but1\"><i class=\"fa fa-print fa-2\"/></span><span class=\"social-text\">Print</span></p> <p><span class=\"email-but\"><i class=\"fa fa-envelope fa-2\"/></span><span class=\"social-text\">Email</span></p> </section><p>It took just four minutes for Bitcoin’s price to take a dramatic dive of more than $800 Tuesday (June 2) as the cryptocurrency market saw red, <a rel=\"nofollow noopener noreferrer\" href=\"https://www.coindesk.com/bitcoins-price-drops-by-800-in-less-than-5-minutes\" target=\"_blank\">CoinDesk reported.</p><p>The drama commenced at 14:45 Universal Time Coordinated (UTC) or 10:45 a.m. Eastern Time (ET) when the cryptocurrency was trading above $10,137.</p><p>But by 14:49 UTC or 10:49 a.m. ET, the price fell to $9,298, an 8.3 percent decline.</p><p>At 4:30 p.m. ET, Bitcoin was trading at $9,501.58, representing a 0.95 percent drop in 24 hours, according to <a rel=\"nofollow noopener noreferrer\" href=\"https://www.coindesk.com/price/bitcoin\" target=\"_blank\">CoinDesk</a>.</p><p>CoinDesk reported that the sudden price drop may have trapped many traders on the wrong side of the market. But the sector looked strong following Monday’s move above $10,000. Some analysts told CoinDesk they expected Bitcoin to reach $11,000. Still, the cryptocurrency has struggled over the last year to stay above $10,000.</p><p>Bitcoin is no stranger to volatility. In January, it was enjoying the best start to a year since 2012, as investors had hopes for widespread adoption of cryptocurrencies. The price of Bitcoin approached $9,000 and traded at $8,816 on Jan. 15, up 23 percent since the start of the year, according to CoinDesk.</p><p>In April, <a rel=\"nofollow noopener noreferrer\" href=\"https://www.forbes.com/sites/cbovaird/2020/04/08/bitcoin-volatility-reached-a-6-year-high-in-march/#4648ce10ac21\" target=\"_blank\">Forbes</a> reported Bitcoin’s price surged in March, rising sharply as the digital currency suffered severe losses amid a widespread sell-off. At the time, the digital currency’s one-month volatility reached 167.24 percent on March 31, its highest since January 2014.</p><p>Last month, PYMNTS reported that the pandemic has sparked mainstream interest in cryptocurrency with J.P. Morgan Chase providing banking services to Coinbase and Gemini, two U.S.-based crypto exchanges.</p><p>The bank is providing wire transfers, deposits and ACH withdrawals to the exchanges’ U.S. customers. It won’t provide services for bitcoin- or crypto- related transactions, however.</p><div class=\"pymnt-bottom-of-article\" id=\"pymnt-266683109\"><!--noptimize--><p>——————————</p>\n<p><b><span style=\"color: #000000;\">LIVE PYMNTS ROUNDTABLE:<span style=\"color: #616161;\"> MODERNIZING & SCALING FOR THE NEW NORMAL<br/></span></span></b></p>\n<p>The pressure on banks to modernize their payments capabilities to support initiatives such as ISO 20022 and instant/real time payments has been exacerbated by the emergence of COVID-19 and the compelling need to quickly scale operations due to the rapid growth of contactless payments, and subsequent increase in digitization. Given this new normal, the need for agility and optimization across the payments processing value chain is imperative.</p>\n<p><img class=\"alignnone size-full wp-image-833139\" src=\"https://securecdn.pymnts.com/wp-content/uploads/2018/11/PYMNTS-Live-Event.jpg\" alt=\"\" width=\"1200\" height=\"539\" srcset=\"https://securecdn.pymnts.com/wp-content/uploads/2018/11/PYMNTS-Live-Event.jpg 1200w, https://securecdn.pymnts.com/wp-content/uploads/2018/11/PYMNTS-Live-Event-258x116.jpg 258w, https://securecdn.pymnts.com/wp-content/uploads/2018/11/PYMNTS-Live-Event-768x345.jpg 768w, https://securecdn.pymnts.com/wp-content/uploads/2018/11/PYMNTS-Live-Event-457x205.jpg 457w\" sizes=\"(max-width: 1200px) 100vw, 1200px\"/></p>\n<!--/noptimize--></div><div id=\"emailsignup\" class=\"subscribe-wrap left relative\"><div class=\"subscribe-image left\"> <img src=\"https://securecdn.pymnts.com/wp-content/themes/flex-mag-sixspoke/images/pymnts-iphone-email.png\"/></div></div></div><script async src=\"//platform.twitter.com/widgets.js\" charset=\"utf-8\"></script>\r\n<br>[ad_2]\r\n<br>Read more:<a href=\"https://www.pymnts.com/blockchain/bitcoin/2020/bitcoin-stock-crests-10k-but-not-for-long/\">Bitcoin Stock Crests $10K But Not For Long | PYMNTS.com </a>"
<https://www.marketforbitcoin.com/2020/06/03/bitcoin-stock-crests-10k-but-not-for-long-pymnts-com/>