A giant sell-off in cryptocurrency markets. Bitcoin falls below $50,000

bitcoin, cryptocurrency

The last Tuesday of February this year will go down in history with one of the biggest declines in cryptocurrency markets in history. Bitcoin has plummeted below $50,000, while other major cryptocurrencies such as Ethereum, Ripple and Stellar have not been spared.

Bitcoin touched the $55,000 mark just before midnight Monday to Tuesday Central European time. Over the next few hours, however, he began to fall uncontrollably behind the $45,400 price tag.

In just 12 hours, each Bitcoin holder lost nearly $10,000 on a single virtual coin. Bitcoin thus weakened by less than 18 percent. In later trading, it erased losses, and its price oscillated to around $49,000 as of Tuesday afternoon. Still, the market capitalization of the Bitcoin market fell by about $100 billion just days after it crossed the $1 trillion mark.

Other major cryptocurrencies also weakened on Tuesday. Ethereum initially wrote off nearly a quarter, Ripple about a third, and Stellar less than 30 percent. They, too, erased their previous losses in the hours that had been erased, trading 10 to 15 percent weaker than Monday’s highs.


Please enter your comment!
Please enter your name here