NEW YORK: Cryptocurrencies that seemed to be defying gravity just weeks ago came back down to earth with a bump on Wednesday after a roller-coaster ride which could undermine their potential as mainstream investments.
The two main digital currencies, bitcoin and ether, fell as much as 30% and 45% respectively, but significantly pared losses after two of their biggest backers – Tesla Inc chief Elon Musk and Ark Invest’s chief executive Cathie Wood – indicated their support for bitcoin.
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