Digital currencies took a beating Tuesday as geopolitical tensions over Ukraine roiled global markets.
Bitcoin sank as low as $36,370 in early morning trade, its lowest level in more than two weeks. The world’s biggest cryptocurrency later pared its losses, last trading down 3% in 24 hours to a price of $37,495.
Other digital assets also tumbled, with ether falling 4% and XRP sinking 10%.
Ukraine situation could be easing at this stage, with Putin getting what he considered his and (thankfully) making his move when US markets were closed for President's day (no massive sell-off).
Markets will open in the US later today and we hope to see a rebound in the Nasdaq as well.
In the meantime, GREAT NEWS:
On Saturday, California State Sen. Sydney Kamlager introduced a bill that seeks to allow Golden State residents to pay for state services using cryptocurrency. Over the weekend, a separate initiative by political advisors also launched to make Bitcoin legal tender within California. These efforts mark the latest push by states to adopt Bitcoin in some way. Last week Colorado announced it will accept Bitcoin for state taxes and fees this June. Last month, an Arizona state Republican introduced a bill to accept Bitcoin as legal tender.