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Bitcoin falls by a fifth, cryptos see $1 billion worth liquidated
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business-standard.comBitcoin shed a fifth of its value on Saturday as a combination of profit-taking and macro-economic concerns triggered nearly a billion dollars worth of selling across cryptocurrencies.
Bitcoin was 12% down at 0920 GMT at $47,495. It fell as low as $41,967.5 during the session, taking total losses for the day to 22%.
The broad selloff in cryptocurrencies also saw ether, the coin linked to the ethereum blockchain network, plunge more than 10%.
Based on cryptocurrency data platform Coingecko, the market capitalisation of the 11,392 coins it tracks dropped nearly 15% to $2.34 trillion. That value had briefly crossed $3 trillion last month, when bitcoin hit a record $69,000.
The plunge follows a volatile week for financial markets. Global
Read more on business-standard.comAbout this in other media
Cryptocurrency prices today: Bitcoin, ether, dogecoin, other cryptos plunge. Check latest rates livemint.com /3 years ago
Bitcoin falls further after weekend rout wipes more than $400 billion from crypto markets markets.businessinsider.com /3 years ago
Bitcoin falls by 22% $1 billion in cryptocurrencies liquidated markets.businessinsider.com /3 years ago
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