Blockchain players slide as doubt over crypto boom looms

Bitcoin (BTC-USD) fell as much as 6.8% to about $32,359 as the digital coin heads for its worst week since March last year - Bloomberg.The largest cryptocurrency hit a record near $42,000 on Jan. 8 and then tumbled to a low around $30,300.The shakeout has dragged the total market value of cryptocurrencies down to about $930B, less than a week after it topped $1T for the first time, data from tracker CoinGecko shows.“Taking some profits off the table after an asset -- any asset, not only Bitcoin -- doubles in value within three weeks is completely understandable,” said Julius de Kempenaer, senior technical analyst at StockCharts.“We think a pull back is healthy,” said David Grider, lead digital strategist with Fundstrat Global Advisors LLC, who added he doesn’t think the recent price action indicates that Bitcoin has already topped out.The latest bout of roller-coaster volatility recalls past boom and bust cycles