# Bitcoin slides more than 5% after topping $40,000 for the first time | Tech News (HT Tech) > Rival cryptocurrency ethereum sank more than 10% to as low as $1,064.89. # Bitcoin slides more than 5% after topping $40,000 for the first time ## Rival cryptocurrency ethereum sank more than 10% to as low as $1,064.89. Aug 21 2022, 14:00 IST ![Follow on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/follow-us-facebook.png) ![Follow on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/follow-us-facebook-hover.png) ![Share](https://images.hindustantimes.com/tech/static/revamp/images/png/Share.png) ![Share](https://images.hindustantimes.com/tech/static/revamp/images/png/Shareclicked.png) ![Share on WhatsApp](https://images.hindustantimes.com/tech/static/revamp/images/png/whatsapp.png) ![Share on WhatsApp](https://images.hindustantimes.com/tech/static/revamp/images/png/whatsapp-hover.png) ![Share on Twitter](https://images.hindustantimes.com/tech/static/revamp/images/png/twitter.png) ![Share on Twitter](https://images.hindustantimes.com/tech/static/revamp/images/png/twitter-hover.png) ![Share on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/facebook.png) ![Share on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/facebook-hover.png) ![Bookmark](https://images.hindustantimes.com/tech/static/revamp/images/png/Bookmark.png) ![Bookmarked](https://images.hindustantimes.com/tech/static/revamp/images/png/Bookmarked.png) ![Bitcoin topped $40,000 for the first time](https://images.hindustantimes.com/tech/img/2021/01/08/1600x900/2020-06-11T221626Z_77159927_RC2A7H9YRPMD_RTRMADP_3_CRYPTO-CURRENCIES-QUADRIGA_1592052115890_1610097962837.JPG) Bitcoin topped $40,000 for the first time (REUTERS) ![Author Photo](https://images.hindustantimes.com/tech/static/revamp/images/png/HTTech-new-circle-logo.png) ### By REUTERS Bitcoin fell more than 5% on Friday, a day after topping $40,000 for the first time. The world's most popular digital currency slid to as low as $36,618.36 on Bitstamp exchange, after reaching an all-time high of $40,402.46 in the previous session. Bitcoin has rallied more than 700% since a low in March. It topped $30,000 for the first time on Jan. 2, after surpassing $20,000 on Dec. 16. Also read click here. Market participants had warned of a correction after the $40,000 milestone was reached. Increased demand from institutional, corporate, and more recently retail investors has powered bitcoin's surge, attracted by the prospect of quick gains in a world of ultra-low yields and negative interest rates. JPMorgan strategists wrote on Jan. 5 that the digital currency has emerged as a rival to gold and could trade as high as $146,000 if it becomes established as a safe-haven asset. Catch all the Latest Tech News, Mobile News, Laptop News, Gaming news, Wearables News , How To News, also keep up with us on Whatsapp channel,Twitter, Facebook, Google News, and Instagram. 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