May 9: crypto markets are seeing a mix of green and red after Bitcoin[1] (BTC) challenged[2] $10,000 on Saturday, May 5, only to be followed by a subsequent drop[3] to as low as $9,000 during the weekend.
The markets have since retraced their losses somewhat, with Bitcoin and Ethereum[4] (ETH) showing gains of around 2 percent each over 24 hours to press time. Bitcoin Cash[5] (BCH) has displayed the largest growth among top 10 cryptocurrencies, up 6 percent over 24 hours, according to Coinmarketcap[6] data.
Market visualization by Coin360[7]
In terms of absolute value, Bitcoin is hovering around the $9,300[8] mark at press time, after it stopped inches away from dipping below $9,000 earlier today.
Bitcoin price chart. Source: Cointelegraph Bitcoin Price Index[9]
Ethereum is following Bitcoin’s trend, with gains of 2 percent over 24 hours to press time. After experiencing significant growth of about 90 percent over the last 30 days, the altcoin is trading at $756[10].
Ethereum price chart. Source: Cointelegraph Ethereum Price Index[11]
Total market cap is currently at $436[12] bln after dipping as low as $415 bln earlier today.
Total market capitalization chart. Source: Coinmarketcap[13]
The latest selloff on the crypto market took place amidst criticism of Bitcoin by Berkshire Hathaway’s chairman and CEO Warren Buffett[14] and the company’s vice chair Charlie Munger. Over the past four days, the latter has alternated between comparing cryptocurrency trading to “trading turds[15]” or even trading “freshly harvested baby brains[16].”
May 7, Microsoft[17] co-founder Bill Gates[18] echoed
