Bitcoin dumps $200 in 30m; continues to fall – September 5

Current Bitcoin Price: $7023 (as of 8:00 AM PST)

There’s only one top-20 coin in the green today among a sea of red, and that’s Tether. While the price of USDT is supposedly tied to a dollar, it moves fractions of cents with every market change — leading to a 0.62% gain in value with today’s crypto bloodbath.

Most other coins are down by 6-12%, bearing a few more exceptions in the top-100. Ethereum is down just under 10%, while Bitcoin Cash, EOS, and IOTA are down between 11 and 12%. We’ll cover Bitcoin’s price movements in our first story of the day.

Top Bitcoin & Crypto News Stories for 5th September 2018

Bitcoin dumps $200 in 30m; continues to fall

Late last night, Bitcoin dumped around $200 of value within the space of 30 minutes. It’s completely unclear what caused this price action, but it’s brought relief to the several-week wedge pattern that was sure to bring a price run of some sort.

For several hours after that, Bitcoin continued to drop reaching a low of $6963, but it appears to have established support at the $7000 and is now looking to recover.

MEGA Chrome extension compromised

MEGA is a file-sharing website with its own Chrome extension to allow for easy uploads and downloads. By default, it’s offered users 50 GB of storage.

Yesterday, the MEGA Chrome extension was identified as having been compromised by hackers. It included code to log the keystrokes of users, allowing the hackers to steal cryptocurrencies including Monero from users’ computers.

VeChain awaits mass use in Chinese cars

BYD is one of China’s most popular car brands, while VeChain is a supply chain coin that’s grown out from humble roots in Singapore.

The two groups have just announced a partnership to bring blockchain to their cars. It hopes to tackle carbon emission, and — amazingly — ready for mass production.