Bitcoin and Other Crypto Coins Lost More Than 20%
Leading cryptocurrency, Bitcoin, dropped 32.17% at noon on Thursday, falling to $5.916.9. This event was recorded as the biggest daily decline after February 24, 2014. Other cryptocurrencies also dropped sharply. Bitcoin, going down to $5,500, caused great surprise in the crypto markets.
After this move, the market value of Bitcoin was $118.0B. BTC was traded between $5.916.9 and $7.963 in 24 hours. As of the publication date of this article (March 12), it is being traded at $5,850 levels. However, the volatility is very high.
Bitcoin has dropped more than 20% in the last seven days. Looking at the 24-hour transaction volume, it became $42.5B. Bitcoin is traded between $5.903 and $ 9.180 in the past week.
Other cryptocurrencies’ prices also dropped!
Ethereum, ranking second in terms of total market value, was among the cryptocurrencies that suffered great losses by decreasing 30%. Ethereum is traded at $131 with high volatility.
Likewise, Ripple is traded at $0.15 with a 35% drop. You can follow the developments about prices of cryptocurrencies through our social media channels and Cointral’s blog page.
Almost all cryptocurrencies lost value. We have explained in our previous news that the mining activities are experiencing difficulties due to the developments resulted from the global epidemic. You can take a look at our blog to learn whether the Coronavirus epidemic will affect the date of Bitcoin Halving?
Investment information, comments and recommendations contained herein are not included in the scope of investment advisory. Therefore, making an investment decision based solely on the information and comments contained herein may not produce results that are in line with your expectations.