Bitcoin loses nearly 30 percent due to market panic – cryptocurrency latest news
The latest cryptocurrency news – The value of the bitcoin’s cyber currency continues to decline significantly due to panic in the stock and cryptocurrency market. This morning, bitcoin had written off 25 percent due to concerns about the effects of the new coronavirus. Although it temporarily erased part of the losses, later it fell sharply to $6,000 and below. The best known and most widespread cryptocurrency could show the sharpest one-day slump in five years.
Around 1:30 pm in Central European time, Bitcoin lost nearly 29 percent of $6,100 on the Luxembourg Stock Exchange Bitstamp. Roughly 30 percent have written off bitcoin in the last five days. Other cryptocurrencies, such as Ethereum and XRP, also show sharp losses.
Losses in cyber currencies are even more pronounced than in the case of oil or equities. Traders are getting rid of risky assets due to the coronavirus crisis, and Bitcoin is one of them. Founded in 2009, it was originally an alternative to official currencies. Over the years, Bitcoin has established itself as one of the leading cyber currencies around the world. However, its value is subject to considerable fluctuations. In 2017, it grew sharply, reaching a record high of $19,000 at the end of that year. As the latest cryptocurrency news shows, the drop in the price is significant.
Bitcoin is now almost synonymous with fairy-tale richness, which is why everyone has heard about cryptocurrencies. But if you want to put money into cryptocurrencies, first you should answer several practical questions: What “coins” to invest in? Why to (not) trust in cryptocurrencies? Is it worthwhile to mine? On what stock exchange to trade? Where to store bitcoins or other digital values? And, what future can be predicted at all for cryptocurrencies?
Cryptocurrencies cleared $94 billion of market capitalization – latest news
Cryptocurrency latest news: During the last 24 hours, Bitcoin lose up to 48% per day, and it was below $4000. The cryptocurrency market is undergoing extreme losses, which in many ways, exceed the failures of the stock markets. The rapid outflow of risky assets on a global scale has triggered a strong wave of profit-making efforts across the entire currency sector. This erased over $93.5 billion of its total market capitalization in the last 24 hours.
The price of bitcoin fell by as much as 48% in a single day, and fell below $4000 per coin. Ethereum lost about 49%.
Coronavirus got into the blockchain, and it takes the form of collector pieces – latest news
Jaclyn Santos, a Californian artist and cryptocurrency investor, launched a controversial coronavirus project in the blockchain. Blockchain makes it possible to bring almost anything into a safe and genuine digital form. For example, cats or items from Formula 1 have already received security in the form of cryptocurrency tokens. Blockchain also ensures that the holder of the digital item is the only one in the world who has and can have it. For the first time, digital collecting is possible.
Cryptocurrency latest news – To represent Covid-19 coronavirus, Santos used this to digitize images of bats. Each picture is unique, and thanks to the blockchain, it will also stay forever. The project is called Corona Babies, and a total of 18 pieces have already been auctioned.
“Are you afraid you will catch a coronavirus? Now you can catch it in a whole new way, without pneumonia, with Corona Babies”. This is the slogan of the controversial project. So far, the highest price per corona baby reached $600. Certainly, they are not the only project trying to feed on coronavirus, as the latest cryptocurrency news are showing. Less than a month ago, cryptocurrency coronacoin was also created. Apart from the speculative purpose, of course, it has no other.
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