What's going on with Bitcoin and Ethereum?

For Bitcoin and Ethereum, today's moves lower have essentially erased all the positive momentum those tokens saw last week. Over the past 24 hours, Bitcoin and Ethereum are down 2.4% and 3.9% as of 9 a.m. ET. Reports that 30% of Bitcoin holders are now in the red have some recent investors spooked.

What happened to bitcoin & ether on Friday?

Bitcoin prices fell sharply on Friday, while ether prices also dived, wiping off nearly $150 billion from the crypto market. Bitcoin fell about 15% and was trading around $36,000 late Friday, according to Coin Metrics. Ether, the second-largest cryptocurrency by market cap, dived about 20% to trade around $2,500.

What happens if bitcoin goes down?

The drop in Bitcoin can be a double whammy for Bitcoin miners. First, they make their revenue in Bitcoin as compensation for providing mining services to the network. So when Bitcoin goes down, their revenue goes down as well without any real offset to their costs.

Is a $15 trillion bitcoin earthquake 'inevitable'?

The bitcoin price, after rocketing higher at the beginning of the summer, has lost all the gains it and the wider ethereum and crypto market made— despite an SEC insider calling a $15 trillion bitcoin earthquake "inevitable."