Bitcoin continued its volatility early Tuesday morning as the cryptocurrency started the day shortly after midnight valued at $ 36,641, near its 24-hour low, Coindesk reported.
Nearly two hours later, Bitcoin hit its daily high, trading at $ 37,408 before starting a steady decline again. At 4:30 a.m. on Tuesday, Bitcoin’s value fell to $ 36,281.
For the 24 hour period ending at that time, Bitcoin was trading at $ 36,160, a gain of 0.25%. Several weeks ago, Bitcoin hit an all-time high of $ 64,829.14, Coindesk reported.
BITCOIN CONTEND WITH THE BIGGEST MONTHLY DROP IN RECORDING
Bitcoin was not having a good May with the currency down 36% for the month until early Monday. A finish below $ 34,885 would cement the worst cryptocurrency month on record.
Bitcoin prices came under pressure in May over fears that the cryptocurrency market might come under more scrutiny from regulators in the United States and abroad.
Federal Reserve Chairman Jerome Powell this month raised the possibility that the central bank could create its own digital currency and was looking for ways to tighten regulation. The Internal Revenue Service has said cryptocurrency transfers over $ 10,000 should be reported.
Ethereum started at $ 2,624 on Tuesday, but within nearly two hours the cryptocurrency was trading at $ 2,710. As of 2:10 a.m. ET, Ethereum has slipped and at 4:30 a.m. ET it was in at $ 2,584.
For the 24 hour period ending at that time, Ethereum was trading at $ 2,571, up 3.64%.
In early May, Ethereum and Dogecoin were extremely volatile after Tesla’s product architect Elon Musk appeared on Saturday Night Live on NBC.
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XRP, another cryptocurrency, is trading at $ 1.01 at 4:45 a.m. Eastern Time, up 0.74.