Bitcoin price crashes losing 20 percent of its value in less than an hour

Thursday 12 March 2020 14:15 CET | News

The price of bitcoin has plummeted dramatically, losing 20% of its value in less than an hour.

The cryptocurrency crash takes bitcoin below USD 6,000 – its lowest value since 2019. Several other major cryptocurrencies also experienced significant losses, with bitcoin cash losing around a third of its value. Some cryptocurrency analysts have blamed the Covid-19 coronavirus outbreak, which has had a heavy impact on the global economy. 

The latest drop means more than USD 50 billion has now been wiped from bitcoin’s overall value since the start of March. It is one of the most severe crashes for the notoriously volatile cryptocurrency, which traded at close to USD 20,000 in late 2017.

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Keywords: Bitcoin, cryptocurrency, stock market, COVID-19, coronavirus, digital currency, market crash, digital coin, blockchain
Categories: DeFi & Crypto & Web3
Countries: World
This article is part of category

DeFi & Crypto & Web3