Bitcoin's no good, very bad week continued into Wednesday trading as the leading cryptocurrency by market cap watched a whopping $150 billion shaved from its total value.
As prices bombed, these were the top stories you can't miss from Wednesday, Jan. 17.
Bitcoin's Drop Weighs on Everyone
The most notable price decline Wednesday was bitcoin, which dipped under $10,000 for the first time since November. Breaking back under the psychological barrier is troublesome, especially since a $10,000 bitcoin has declined 50% from highs near $20,000 set in December. Bitcoin's low Wednesday reached as far as about $9,100. But bitcoin wasn't alone -- Ethereum fell as much as 18%, Ripple declined as much as 21% and Bitcoin Cash was down as much as 20% Wednesday.
Bitcoin Bulls Not Deterred
But even as prices continued to decline Wednesday, bitcoin's most enthusiastic bulls didn't lose their nerve. Holders took to Twitter Inc. (TWTR) - Get Report to bolster confidence and shame those jumping ship.
Mavs Entrée to Crypto
Mark Cuban, the billionaire owner of the NBA's Dallas Mavericks, told his Twitter followers that the team will begin accepting bitcoin as payment for game tickets next season.
Cuban later told CoinDesk that it won't just be bitcoin that ticket holders can pay with, but also Ethereum and possibly other cryptocurrencies. Cuban has been one of the louder voices in the bitcoin craze. He invested part of his $3.3 billion worth in bitcoin, but has cautioned investors not to put in anything they're not willing to lose.
Microsoft Execs Warn China
Executives from Microsoft Corp. (MSFT) - Get Reporttold Chinese regulators that they ought to be more welcoming toward cryptocurrencies or else risk undermining their country's economic competitiveness. The leaders, who were speaking as the Asian Financial Forum in Hong Kong, said the government and private sector would do well to foster further growth in blockchain applications. The country has been continually restricting the use, mining and trading of cryptocurrencies through strict regulation.
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