Cryptocurrencies tumble, with bitcoin falling 7% and ether down 8% in the last 24 hours

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Assessment: The Federal Reserve’s announcement exploring a digital dollar, following China’s entry of the digital yuan and the banning of non-government coins, is making investors nervous …

Bitcoin prices fell sharply on Thursday night, while ether prices also dived, wiping off nearly $150 billion from the crypto market.

Bitcoin fell about 7% in the last 24 hours, and dropped as low as $38,287 in the same period, according to CoinDesk. It was last trading at $39,010 as of 4:43 a.m. ET, according to CoinDesk data.

Ether, the second-largest cryptocurrency by market cap, dived nearly 8% in the last 24 hours. It was trading at $2,878 as of 4:43 a.m. ET, after falling as low as $2,809.51 in the past 24 hours, according to CoinDesk.

“and that no one may buy or sell except one who has the mark or the name of the beast, or the number of his name.” Rev. 13:17

About $147 billion was wiped off the entire cryptocurrency market in the past 24 hours, according to Coinmarketcap.com

The declines in cryptocurrencies follow Wall Street losses on Thursday. The Nasdaq was down almost 5% this week, and the S&P 500 is into its third straight week of losses.

As the 10-year U.S. Treasury yield spiked earlier this week, rising rates have caused investors to shed their positions in riskier assets. Yields move opposite to prices.

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