Bitcoin news LIVE – Ethereum price at record high as Safemoon, Dogecoin and Bitcoin plunge in cryptocurrency shock

BITCOIN went below $50,000 yesterday as the cryptocurrency’s slump continues.

Trading showed signs of life yesterday with a determined step up towards $51k, City AM reports.

But the cryptocurrency then slid back by more than 6 percent, to below $50,000 (£36,000) a bitcoin.

Despite Bitcoin’s woes, newcomer Ethereum hit a record high last week thanks to a “perfect storm”.

It bucked market trends to reach above $2,600 on Thursday – the first time in its history – after trading below $200 only a year ago.

The gains have pushed Ethereum’s market cap above $300 billion, nearly one third that of Bitcoin’s.

This comes as Safemoon has been predicted to overtake Dogecoin as one of the most heavily invested cryptocurrencies in the world – although both lost value over the weekend.

Read our cyptocurrency live blog below for the very latest updates…