Bitcoin takes a beating while rivals soar to all-time highs

Source: MarketWatch

“Call it the schadenfreude trade. Bitcoin’s price is taking a beating, having shed about one-fifth of its value over the weekend. At the same time, its biggest rivals in the cryptocurrency space are ascendent: The price of a single ethereum token, the second-largest cryptocurrency by market capitalization, touched an all-time high above $50 over the weekend just as bitcoin’s losses were beginning to accelerate. … Ethereum isn’t the only cryptocurrency benefiting from bitcoin’s selloff: Dash, the third-largest cryptocurrency by market cap, broke to an all-time high above $100 a coin on Monday. Monero, the fourth-largest digital currency, touched an all-time high above $20. The bitcoin selloff started around the time that AntPool, the largest collective of bitcoin miners, on Friday adopted a controversial software update known as bitcoin unlimited.” (03/20/17)

http://www.marketwatch.com/story/bitcoin-takes-a-beating-while-rivals-soar-to-all-time-highs-2017-03-20