8.1 C
Mönchengladbach
Friday, February 23, 2024
Advertise with us
Business1-trillion$ loss for the Global crypto market as Bitcoin crashes!

1-trillion$ loss for the Global crypto market as Bitcoin crashes!

Bitcoin crashes

cryptocurrency | Bitcoin

The crypto crash came as the US Federal Reserve raised the possibility of boosting interest rates as soon as March and withdrawing stimulus from the market.

Bitcoin, along with other digital cryptocurrencies, crashed to its lowest level on Saturday and the continuing meltdown has wiped out over $1 trillion from the global crypto market value.

Bitcoin was hovering at $35,000 per coin and the largest digital asset by market value has lost more than 40 per cent since reaching its peak in November 2021.

Bitcoin hit an all-time high of roughly $69,000 in November.

The crypto crash came as the US Federal Reserve raised the possibility of boosting interest rates as soon as March and withdrawing stimulus from the market.

Other digital currencies, Ethereum, Finance Coin and Cardano also witnessed similar meltdowns. Solana, Dogecoin and Shiba Inu also saw massive drops.

Bitcoin has crashed below $36,000 — a level below which “there is not much support until the $30,000 level,” Edward Moya, senior market analyst at Oanda, said in a note.

Bitcoin’s decline since that November has wiped out more than $600 billion in its market value.

Crypto assets such as Bitcoin have matured from an obscure asset class with few users to an integral part of the digital asset revolution, raising financial stability concerns.

Given their relatively high volatility and valuations, cryptocurrencies’ increased co-movement could soon pose risks to financial stability especially in countries with widespread crypto adoption, according to IMF research.

It is, thus, time to adopt a comprehensive, coordinated global regulatory framework to guide national regulation and supervision and mitigate the financial stability risks stemming from the crypto ecosystem.

The market value of these novel assets rose to nearly $3 trillion in November from $620 billion in 2017, on soaring popularity among retail and institutional investors alike, despite high volatility.

Bitcoin crashes

Bitcoin Has Lost Half Its Value Since Hitting Record High

Bitcoin extended its decline on Saturday, and has shed more than 50% from its record high in November while adding further momentum to the meltdown in cryptocurrencies.

“Margin positions being liquidated caused a wave of additional sell pressure, as assets that had been held as collateral were forcibly sold to pay for margin loans,” said Hayden Hughes, chief executive officer at Alpha Impact in Singapore.

Bitcoin’s decline from its peak has wiped out more than $600 billion in market value, and over $1 trillion has been lost from the aggregate crypto market. While there have been much larger percentage drawdowns for both Bitcoin and the aggregate market, this marks the second-largest ever decline in dollar terms for both, according to Bespoke Investment Group.

Bitcoin fell as low as $34,042.78 Saturday, a drop of 7.2%, before paring most of those losses. Other digital assets also slid, with Ethereum down 12%. Solana and Cardano each fell at least 17%, according to Coinbase.

Bitcoin crashes

“I would expect it to take some time for a bottom to form and for confidence to return, before expecting any sort of bullishness,” Hughes said.

With the Federal Reserve’s intentions on reining in inflation rocking both cryptocurrencies and stocks, a dominant theme has emerged in the digital-asset space: cryptos have moved in the same way as equities and many other risk assets.

And the case for further caution was reinforced on Friday. Bloomberg News reported that the Biden administration is preparing to release an initial government-wide strategy for digital assets as soon as next month and will ask federal agencies to assessing the risks and opportunities they pose.

Reviews

Related Articles

POPULAR

The romantic relationship between Ronaldo’s son and Luis Suarez’s daughter was revealed

"Delfina Suarez", the daughter of "Luis Suarez" revealed her romantic relationship by publishing a story with a heart from "Cris Ronaldo Jr.", the son...

Were Jennifer Lawrence nude photos real?

Are Jennifer Lawrence nude photos true?The question that you may ask yourself is whether the images that were published years ago are trueThe answer...

UK Entry requirements

Entry requirements This page reflects the UK government’s understanding of current rules for people travelling on a full ‘British Citizen’ passport, for the most common...

LATEST POSTS

Salman Khan reaches Mumbai to celebrate his 58th birthday

Salman Khan is celebrating his 58th birthday. He returned to Mumbai to spend his special day with family and close people. It's a big day...

McDonald’s opening hours on Christmas Day and Boxing Day in Cambridgeshire

Although McDonald's is not the first thing that comes to mind for most people on Christmas Day, some might be wondering if they can still pop...

MORE

YOU MAY LIKE

metaverse app, metaverse facebook, metaverse crypto, metaverse zuckerberg, metaverse game, metaverse login, zuckerberg stuck in metaverse, mark zuckerberg stuck in metaverse, live longer for 150 years in metaverse, shib metaverse, gundam metaverse, shiba metaverse, shiba inu coin, shiba inu metaverse, shiba inu, metaverse fashion week, shiba metaverse land, mark zuckerberg, mark zuckerberg metaverse, how to make money in the metaverse, zuckerberg metaverse, best metaverse stocks, metaverse logo, nvidia stock, buying real estate in the metaverse, how to invest in the metaverse, bitcoin, metaverse login, how to buy land in metaverse, metaverse headset, how to invest in metaverse, metaverse meaning, metaverse crypto, metaverse stock, metaverse facebook, metaverse coins, metaverse real estate, metaverse etf, metaverse nft, metaverse login, metaverse pro, facebook metaverse, sandbox metaverse, how to invest in metaverse, mark zuckerberg metaverse, best metaverse crypto, how to buy land in metaverse, roundhill ball metaverse etf, roblox metaverse, top metaverse coins, apple metaverse, pete davidson net worth, pete davidson kim kardashian, pete davidson instagram, pete davidson ariana grande, pete davidson father, pete davidson tattoos, pete davidson exes, pete davidson wife, pete davidson net worth, pete davidson kim kardashian, pete davidson movies and tv shows, pete davidson instagram, pete davidson height, pete davidson ariana grande, simon rex, kenedi anderson american idol, bebe rexha, billy ray cyrus, pete davidson roast 9/11, walker scobell, is kim kardashian pregnant by pete davidson, tish cyrus, david mamet, wynonna judd, roast of pete davidson, pete davidson bde, is kim kardashian pregnant with pete davidson, kanye pete davidson boxing, phoebe dynevor and pete davidson, north and pete davidson, daphne bridgerton, pete davidson father 9/11, kim kardashian pregnant with pete davidson, cam newton, pete davidson and north west, is pete davidson jewish, pete davidson north, kourtney kardashian, pete davidson dad

Humanitarian visas for Afghans who helped Australian forces extended

According to sources who worked for Australian Defence Services, Afghans who were helping to secure their temporary and permanent refugee visa could soon apply for a second visa. Permanent humanitarian Visa holders will be...
metaverse app, metaverse facebook, metaverse crypto, metaverse zuckerberg, metaverse game, metaverse login, zuckerberg stuck in metaverse, mark zuckerberg stuck in metaverse, live longer for 150 years in metaverse, shib metaverse, gundam metaverse, shiba metaverse, shiba inu coin, shiba inu metaverse, shiba inu, metaverse fashion week, shiba metaverse land, mark zuckerberg, mark zuckerberg metaverse, how to make money in the metaverse, zuckerberg metaverse, best metaverse stocks, metaverse logo, nvidia stock, buying real estate in the metaverse, how to invest in the metaverse, bitcoin, metaverse login, how to buy land in metaverse, metaverse headset, how to invest in metaverse, metaverse meaning, metaverse crypto, metaverse stock, metaverse facebook, metaverse coins, metaverse real estate, metaverse etf, metaverse nft, metaverse login, metaverse pro, facebook metaverse, sandbox metaverse, how to invest in metaverse, mark zuckerberg metaverse, best metaverse crypto, how to buy land in metaverse, roundhill ball metaverse etf, roblox metaverse, top metaverse coins, apple metaverse, pete davidson net worth, pete davidson kim kardashian, pete davidson instagram, pete davidson ariana grande, pete davidson father, pete davidson tattoos, pete davidson exes, pete davidson wife, pete davidson net worth, pete davidson kim kardashian, pete davidson movies and tv shows, pete davidson instagram, pete davidson height, pete davidson ariana grande, simon rex, kenedi anderson american idol, bebe rexha, billy ray cyrus, pete davidson roast 9/11, walker scobell, is kim kardashian pregnant by pete davidson, tish cyrus, david mamet, wynonna judd, roast of pete davidson, pete davidson bde, is kim kardashian pregnant with pete davidson, kanye pete davidson boxing, phoebe dynevor and pete davidson, north and pete davidson, daphne bridgerton, pete davidson father 9/11, kim kardashian pregnant with pete davidson, cam newton, pete davidson and north west, is pete davidson jewish, pete davidson north, kourtney kardashian, pete davidson dad

The list of the richest people in 2022; Ilan Mask’s presidency and Rihanna’s rise to...

Forbes Magazine has published the latest ranking of the richest people in the world in 2022. The list includes 2,668 billionaires with a total wealth of $ 12.7 trillion. At the top of this list is...

Brad Pitt and Adam Sandler co-star

"Snow White" director Noah Baumbach, currently streaming on Netflix, has named Brad Pitt and Adam Sandler as the cast of his new film. The film White Snow directed by Noah Bambuck, which with a budget...
metaverse app, metaverse facebook, metaverse crypto, metaverse zuckerberg, metaverse game, metaverse login, zuckerberg stuck in metaverse, mark zuckerberg stuck in metaverse, live longer for 150 years in metaverse, shib metaverse, gundam metaverse, shiba metaverse, shiba inu coin, shiba inu metaverse, shiba inu, metaverse fashion week, shiba metaverse land, mark zuckerberg, mark zuckerberg metaverse, how to make money in the metaverse, zuckerberg metaverse, best metaverse stocks, metaverse logo, nvidia stock, buying real estate in the metaverse, how to invest in the metaverse, bitcoin, metaverse login, how to buy land in metaverse, metaverse headset, how to invest in metaverse, metaverse meaning, metaverse crypto, metaverse stock, metaverse facebook, metaverse coins, metaverse real estate, metaverse etf, metaverse nft, metaverse login, metaverse pro, facebook metaverse, sandbox metaverse, how to invest in metaverse, mark zuckerberg metaverse, best metaverse crypto, how to buy land in metaverse, roundhill ball metaverse etf, roblox metaverse, top metaverse coins, apple metaverse, pete davidson net worth, pete davidson kim kardashian, pete davidson instagram, pete davidson ariana grande, pete davidson father, pete davidson tattoos, pete davidson exes, pete davidson wife, pete davidson net worth, pete davidson kim kardashian, pete davidson movies and tv shows, pete davidson instagram, pete davidson height, pete davidson ariana grande, simon rex, kenedi anderson american idol, bebe rexha, billy ray cyrus, pete davidson roast 9/11, walker scobell, is kim kardashian pregnant by pete davidson, tish cyrus, david mamet, wynonna judd, roast of pete davidson, pete davidson bde, is kim kardashian pregnant with pete davidson, kanye pete davidson boxing, phoebe dynevor and pete davidson, north and pete davidson, daphne bridgerton, pete davidson father 9/11, kim kardashian pregnant with pete davidson, cam newton, pete davidson and north west, is pete davidson jewish, pete davidson north, kourtney kardashian, pete davidson dad

Kaley Cuoco ‘So Happy’ for Costar Pete Davidson and Kim Kardashian: Their Romance Is...

Kaley Cuoco is totally on board for Pete Davidson and Kim Kardashian's romance! In an interview with Entertainment Tonight published Tuesday, the 36-year-old actress expressed her happiness for her Meet Cute costar, 28, amid his new relationship with Kardashian, 41. "I am so happy...
metaverse app, metaverse facebook, metaverse crypto, metaverse zuckerberg, metaverse game, metaverse login, zuckerberg stuck in metaverse, mark zuckerberg stuck in metaverse, live longer for 150 years in metaverse, shib metaverse, gundam metaverse, shiba metaverse, shiba inu coin, shiba inu metaverse, shiba inu, metaverse fashion week, shiba metaverse land, mark zuckerberg, mark zuckerberg metaverse, how to make money in the metaverse, zuckerberg metaverse, best metaverse stocks, metaverse logo, nvidia stock, buying real estate in the metaverse, how to invest in the metaverse, bitcoin, metaverse login, how to buy land in metaverse, metaverse headset, how to invest in metaverse, metaverse meaning, metaverse crypto, metaverse stock, metaverse facebook, metaverse coins, metaverse real estate, metaverse etf, metaverse nft, metaverse login, metaverse pro, facebook metaverse, sandbox metaverse, how to invest in metaverse, mark zuckerberg metaverse, best metaverse crypto, how to buy land in metaverse, roundhill ball metaverse etf, roblox metaverse, top metaverse coins, apple metaverse, pete davidson net worth, pete davidson kim kardashian, pete davidson instagram, pete davidson ariana grande, pete davidson father, pete davidson tattoos, pete davidson exes, pete davidson wife, pete davidson net worth, pete davidson kim kardashian, pete davidson movies and tv shows, pete davidson instagram, pete davidson height, pete davidson ariana grande, simon rex, kenedi anderson american idol, bebe rexha, billy ray cyrus, pete davidson roast 9/11, walker scobell, is kim kardashian pregnant by pete davidson, tish cyrus, david mamet, wynonna judd, roast of pete davidson, pete davidson bde, is kim kardashian pregnant with pete davidson, kanye pete davidson boxing, phoebe dynevor and pete davidson, north and pete davidson, daphne bridgerton, pete davidson father 9/11, kim kardashian pregnant with pete davidson, cam newton, pete davidson and north west, is pete davidson jewish, pete davidson north, kourtney kardashian, pete davidson dad

What is Bitcoin? HOW WAS IT FOUND?

Bitcoin digital currency chart Have you heard of cryptocurrency? What about China Blockchain? Did you know that new technologies such as the Chinese blockchain can provide unparalleled services to the world? If you browse the...
metaverse app, metaverse facebook, metaverse crypto, metaverse zuckerberg, metaverse game, metaverse login, zuckerberg stuck in metaverse, mark zuckerberg stuck in metaverse, live longer for 150 years in metaverse, shib metaverse, gundam metaverse, shiba metaverse, shiba inu coin, shiba inu metaverse, shiba inu, metaverse fashion week, shiba metaverse land, mark zuckerberg, mark zuckerberg metaverse, how to make money in the metaverse, zuckerberg metaverse, best metaverse stocks, metaverse logo, nvidia stock, buying real estate in the metaverse, how to invest in the metaverse, bitcoin, metaverse login, how to buy land in metaverse, metaverse headset, how to invest in metaverse, metaverse meaning, metaverse crypto, metaverse stock, metaverse facebook, metaverse coins, metaverse real estate, metaverse etf, metaverse nft, metaverse login, metaverse pro, facebook metaverse, sandbox metaverse, how to invest in metaverse, mark zuckerberg metaverse, best metaverse crypto, how to buy land in metaverse, roundhill ball metaverse etf, roblox metaverse, top metaverse coins, apple metaverse, pete davidson net worth, pete davidson kim kardashian, pete davidson instagram, pete davidson ariana grande, pete davidson father, pete davidson tattoos, pete davidson exes, pete davidson wife, pete davidson net worth, pete davidson kim kardashian, pete davidson movies and tv shows, pete davidson instagram, pete davidson height, pete davidson ariana grande, simon rex, kenedi anderson american idol, bebe rexha, billy ray cyrus, pete davidson roast 9/11, walker scobell, is kim kardashian pregnant by pete davidson, tish cyrus, david mamet, wynonna judd, roast of pete davidson, pete davidson bde, is kim kardashian pregnant with pete davidson, kanye pete davidson boxing, phoebe dynevor and pete davidson, north and pete davidson, daphne bridgerton, pete davidson father 9/11, kim kardashian pregnant with pete davidson, cam newton, pete davidson and north west, is pete davidson jewish, pete davidson north, kourtney kardashian, pete davidson dad

Hamilton Fights and Takes Slender Spain Victory This Weekend

We woke reasonably late following the feast and free flowing wine the night before. After gathering ourselves and our packs, we headed down to our homestay family’s small dining room for breakfast. Refreshingly, what was...

The “terrible” gift of the people of Senegal to Sadio Mane (+ picture)

After the charitable contributions of Sadio Mane, the star of the Senegal national team and the Bayern Munich club, his statue was unveiled to the people of Bambali, his birthplace. This statue has been widely...
metaverse app, metaverse facebook, metaverse crypto, metaverse zuckerberg, metaverse game, metaverse login, zuckerberg stuck in metaverse, mark zuckerberg stuck in metaverse, live longer for 150 years in metaverse, shib metaverse, gundam metaverse, shiba metaverse, shiba inu coin, shiba inu metaverse, shiba inu, metaverse fashion week, shiba metaverse land, mark zuckerberg, mark zuckerberg metaverse, how to make money in the metaverse, zuckerberg metaverse, best metaverse stocks, metaverse logo, nvidia stock, buying real estate in the metaverse, how to invest in the metaverse, bitcoin, metaverse login, how to buy land in metaverse, metaverse headset, how to invest in metaverse, metaverse meaning, metaverse crypto, metaverse stock, metaverse facebook, metaverse coins, metaverse real estate, metaverse etf, metaverse nft, metaverse login, metaverse pro, facebook metaverse, sandbox metaverse, how to invest in metaverse, mark zuckerberg metaverse, best metaverse crypto, how to buy land in metaverse, roundhill ball metaverse etf, roblox metaverse, top metaverse coins, apple metaverse, pete davidson net worth, pete davidson kim kardashian, pete davidson instagram, pete davidson ariana grande, pete davidson father, pete davidson tattoos, pete davidson exes, pete davidson wife, pete davidson net worth, pete davidson kim kardashian, pete davidson movies and tv shows, pete davidson instagram, pete davidson height, pete davidson ariana grande, simon rex, kenedi anderson american idol, bebe rexha, billy ray cyrus, pete davidson roast 9/11, walker scobell, is kim kardashian pregnant by pete davidson, tish cyrus, david mamet, wynonna judd, roast of pete davidson, pete davidson bde, is kim kardashian pregnant with pete davidson, kanye pete davidson boxing, phoebe dynevor and pete davidson, north and pete davidson, daphne bridgerton, pete davidson father 9/11, kim kardashian pregnant with pete davidson, cam newton, pete davidson and north west, is pete davidson jewish, pete davidson north, kourtney kardashian, pete davidson dad

Humanitarian visas for Australia’s local counterparts in Afghanistan have been extended

The federal government has announced that it will extend temporary humanitarian visas for Afghan-Australian colleagues who have remained in Afghanistan since the withdrawal of international troops.
Dubai

The UAE has approved the executive regulations of the Federal Law on Visa and...

The new law includes 19 important and new amendments, including the granting of a 10-year golden visa, a 5-year green visa, and many facilities for tourist visas, etc. UAE Cabinet, chaired by Sheikh Mohammed bin...

NASA found something similar to “spaghetti” on Mars

On Tuesday, July 13, the Perseverance probe transmitted an image to Earth that surprised NASA experts. In the image sent by this rover robot, a string-like object like spaghetti can be seen. Some joked about the...
Rebecca Black says she’s ‘very in love’ with girlfriend after joke about pegging Pete Davidson

Rebecca Black says she’s ‘very in love’ with girlfriend after joke about pegging Pete...

Rebecca Black has clarified that she’s “very in love” with her girlfriend after her joke about pegging Pete Davidson went viral. Yes, you read that right. The whole thing kicked off when a Twitter user shared...

Everything you need to know about the Vikings series

In this article, we take a comprehensive look at all the information we have about the Vikings: Valhalla series; A series that is considered a spin-off of the Walking series. Be with Euro international News . If...

Actors who have left school at a young age

Jennifer Lawrence Jennifer Lawrence: Jennifer Lawrence dropped out of school at age 14 and got into acting. Ryan Gosling Ryan Gosling: The actor had a lot of problems at school and his mother had to teach him...

Were Jennifer Lawrence nude photos real?

Are Jennifer Lawrence nude photos true?The question that you may ask yourself is whether the images that were published years ago are trueThe answer to this question should be said: According to a BBC report...

Aaliyah Ferchichi – Euro International News

Aaliyah Ferchichi Biography With Birthday, Age, Height, Weight, Family, Profession, Real Name, Zodiac Sign, Nationality, Birthplace, Father, Mother, Spouse, Siblings, Children, Eye Color, Hair Color, Wiki etc. Biography :- Real Name: Aaliyah FerchichiFamous As: Bushido's daughterDate of Birth: 6...
\