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Why Bitcoin Has Fallen 2.9% Today

TheMotleyFool

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The price of Bitcoin (CRYPTO: BTC) is down 2.9% in the past 24 hours, according to Coinbase Global, and most of that drop has happened since 8 a.m. EDT today. Volatility isn't new for Bitcoin, but comments from JPMorgan Chase CEO Jamie Dimon might have been the reason for selling over the last few hours.

During a virtual appearance at the annual meeting for the Institute of International Finance, Dimon said that Bitcoin is "worthless" and a "terrible store of value." He also noted that his bank's clients are seeking out cryptocurrencies and finding ways to buy them, even if JPMorgan is not the custodian.

Image source: Getty Images.

Source Fool.com

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