Bitcoin falls below $30,000 for the first time since December
A TerraUSD backer says it will compensate some users, bitcoin back below $30,000.
- Bitcoin falls below $30,000 for the first time since December
- The Bitcoin price drops after TerraUSD backer says it will compensate users
- It falls below $30,000 again after news of TerraUSD compensation
- Winding Up
The price of bitcoin fell below $30,000 for the first time since December on Sunday as investor concerns about a potential hard fork intensified. However, some TerraUSD backers say they will compensate users who lost money in the event. Bitcoin was trading at $29,839 as of writing, according to CoinMarketCap. The cryptocurrency had been hovering around $30,000 for much of the past week. Some investors have been worried about a potential hard fork that could lead to two different versions of bitcoin existing side by side. If this happens, people who hold TerraUSD would have been forced to either hold both currencies or sell their Terracoins for bitcoin.
The Bitcoin price drops after TerraUSD backer says it will compensate users
1. Bitcoin prices dropped after TerraUSD backer says it will compensate users.
2. The bitcoin price was below $6,000 on Dec. 18, 2017, after a TerraUSD backer said it would compensate users.
3. On Dec. 21, 2017, the bitcoin price was above $8,000 after the announcement was retracted.
4. Bitcoin prices were below $7,500 on Dec. 28, 2017, after the announcement of the retractation of the compensation plan.
It falls below $30,000 again after news of TerraUSD compensation
Following the news that TerraUSD will be compensating some of its users, bitcoin falls below $30,000 again. Many people are wondering if this is a sign that the cryptocurrency is headed for another crash.
As of right now, it’s unclear how many users will be compensated and how much they’ll receive. But even if only a small number of people are given money back, it’s still a big deal overall. This shows that TerraUSD is committed to doing what’s best for its users.
Winding Up
A spokesperson for TerraUSD said they will compensate some of their users who lost money in the company’s closure. Bitcoin has fallen below $8,000 AUD, extending its decline from last week.
