Bitcoin price pulls back from recent highs

Bitcoin was trading 1.9% lower Wednesday morning.

That puts it around $66,600, which is down from its all-time high of $68,525.84 per coin hit on Monday.

Rival Ether, the world’s second-largest cryptocurrency, is trading around $4,700, down from Tuesday’s high of hit $4,825.

Both have more than doubled since June.


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Dogecoin was trading around 27 cents per coin, respectively, according to Coindesk.

It was a rough third quarter for Coinbase Global.

The U.S. cryptocurrency exchange reported a nearly 30% fall in third-quarter trading volumes on a sequential basis, hit by lower volatility and declining prices for bitcoin and other cryptocurrencies, according to Reuters.

Trading volumes fell to $327 billion in the quarter from $462 billion in the second. 

Bitcoin accounted for 19%, down from 24% last quarter.

The company’s shares tumbled 13% in trading after the bell.

Total revenue fell to $1.31 billion from $2.23 billion in the prior quarter, also missing estimates.

In other cryptocurrency news, Apple CEO Tim Cook says that while the tech giant is looking into cryptocurrencies, there are no immediate plans to adopt it as a form of payment on Apple Pay for the company’s products. 

APPLE CEO TIM COOK TALKS CRYPTOCURRENCY FUTURE

“It’s something that we’re looking at. It’s not something we have immediate plans to do,” Cook said during the New York Times Dealbook Summit on Tuesday and reported by FOX Business.

Though Cook was tight-lipped on what exactly Apple’s crypto-related plans are, he did reveal that he has personally invested in them.

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“I think it’s reasonable to own it as part of a diversified portfolio and I’m not giving anybody investment advice by the way,” he said. “I’ve been interested in it for awhile and I’ve been researching it and so forth and so I think it’s interesting.”