Bitcoin recovers after dropping below $8,000

LONDON — Cryptocurrencies are stuttering on Thursday morning amid continued bearish sentiment in the market.

Bitcoin dropped below $8,000 to a five-week low in early trade but has since recovered to trade almost flat. Here’s the scoreboard at 10.30 a.m. GMT (6.30 a.m. ET):

Cryptocurrencies have been hit by a sell-off in the crypto market that began at the start of the month. Investor confidence was last week shaken by fears of regulation, big sellers liquidating holdings in the market, and rumours of another exchange hack.

The latest blow to already shaky investor sentiment is Google’s decision on Wednesday to ban all cryptocurrency advertising on its platforms, which pushed cryptos into the red.

Trey Ditto, the CEO of crypto-specialist PR firm Ditto, said in an email on Wednesday evening: “Today’s decision to ban ads on Google feels like they’re throwing the baby out with the bath water…

Read Full: Bitcoin recovers after dropping below $8,000 By Business Insider