Cryptocurrencies Lose Almost €82 Billion In Just Two Days.
The total market value of all cryptocurrencies has lost about €82 Billion over the past 48 hours, after the world’s top digital asset, bitcoin, slumped around 10 per cent as crypto fever cooled off. Bitcoin was trading at €25,776.29 per token at 14:40 GMT, having lost nearly 10 per cent day to day, according to Coinmarketcap.com. The world’s number-one cryptocurrency has dropped almost 18 per cent over the past week.
Bitcoin has seen a wild rally in recent weeks, briefly hitting $41,940 earlier this month before its recent sharp drop. The second-biggest cryptocurrency by market value, ether, was also down around 10 per cent over the past 48 hours. It was trading at €1,017.49, after hitting an all-time high of €1,182.22 on Tuesday.
Despite the latest drop, bitcoin has still been up over 150 per cent in the past three months. Experts tied its rally to a number of factors, including growing interest from large institutional investors. Bitcoin’s recent price surge was also boosted by massive investor outflow from gold, which is commonly the preferred inflation hedge for traders.
Thank you for taking the time to read this news article “Cryptocurrencies Lose Almost €82 Billion In Just Two Days”. For more UK daily news, Spanish daily news and Global news stories, visit the Euro Weekly News home page.