Archive: Steve Jurvetson, CC BY 2.0.
Bitcoin slipped back below $80,000 on Thursday morning, giving up the modest bounce that followed the Federal Reserve’s decision to hold interest rates steady.
Bitcoin changed hands at $79,940 on Coinbase’s exchange at 8:34 a.m. Eastern, down about 0.8% over the previous 24 hours, after trading between $79,586 and $81,715 in that span, according to Coinbase’s price data. Ether, the second-largest cryptocurrency, traded at $2,316, down about 0.9%.
The Federal Reserve held its benchmark interest rate steady on Wednesday, as expected. Bitcoin briefly climbed above $81,000 after the decision before easing back overnight.
Bitcoin has hovered near $80,000 for more than a week, after sliding from about $84,900 on October 21.
JBizNews Desk | New York
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