In just a few hours, the Patriots will take on the Eagles in a Minnesota, but football fans who are also crypto traders will have something else on their minds besides the Super Bowl. It may be Sunday, but Bitcoin and all the other altcoins are all plummeting, on a combination of bad news from China and the US.

All the coins rallied on Friday, after another two-day bloodbath that saw Bitcoin falling below the $10,000 mark on Thursday, and dropping all the way to $7,700 soon after that. It looked like prices were on track to hit $10,000 again, as one Bitcoin traded for around $9,500 late on Friday and through Saturday.

But those hopes were cut short on Sunday, as prices went down anywhere between 13% and 17%, to Thursday’s levels. News broke late on Friday that major US banks would not support crypto purchases.

The list of financial institutions includes JPMorgan Chase, Bank of America, and Citigroup. According to Bloomberg, these credit card issuers are halting purchases of Bitcoin and other cryptos on credit cards.

Apparently, they do not want to deal with the risk associated with crypto trading. That was just minor bad news that hardly dented the market. Read more from…

thumbnail courtesy of