Bitcoin Plunges Below 16,000 and Digital Currencies Plunge to 800 Billion By Investing.com

Bitcoin Plunges Below 16,000 and Digital Currencies Plunge to 800 Billion By Investing.com
Bitcoin Plunges Below 16,000 and Digital Currencies Plunge to 800 Billion By Investing.com

Bitcoin Plunges Below 16,000 and Digital Currencies Plunge to 800 Billion By Investing.com

©Reuters

Investing.com – Cryptocurrency losses widened during Monday’s trading before erasing some of those losses due to the impact of the lingering impact of the stock market and FTX currency collapse, which raised concerns about the stability of the…

In those moments of trading on Monday, the market cap of the cryptocurrency market fell to levels close to $800 billion, once again approaching its lowest level since January 2021.

As rumors of the FTX platform collapsing circulated until the official announcement that the platform filed for urgent bankruptcy to protect it from creditors, the cryptocurrency market’s losses escalated at a tremendous pace.

In a week, the cryptocurrency’s market cap has seen losses of around $270 billion, falling from pre-FTX collapse levels of nearly $1.07 trillion.

$2.53 trillion

According to CoinGeco data, the cryptocurrency reached its highest ever cap level in early November 2021, when the market cap at the time surpassed $3.3 trillion.

According to data today, Monday, digital currencies have lost nearly $2.53 trillion in value over the year as they trade nearly $800 billion.

panic back

The demise of digital currencies and the violent demise of the largest cryptocurrency, Bitcoin, coincided with the return of panic and desperation that gripped crypto bulls and sent bears into mad sell-offs.

Meanwhile, the Crypto Fear & Greed Index was recorded, which measures the psychology of traders in the crypto market by chasing violent downtrends.

During these moments of trading on Monday, the index was down 22 points, its lowest since October 25 trading, compared to 40 points, last week’s average, revealing the shift in traders’ feelings from fear to intense anxiety.

Bitcoin now

Losses of the first cryptocurrency widened, and for a short while, the largest cryptocurrency, Bitcoin, fell below the $16,000 level as the first coin was seen at the $15.87,000 level.

However, Bitcony managed to pare a large chunk of its losses and is now trading at the highest level of $16,000 as it hit the $16.6,000 price, down 1.5% after falling 5% earlier today. had fallen.

Bitcoin’s losses soared to over $1 trillion in a year, compared to its all-time high in November 2011 when it jumped to $69.7 thousand levels, with a market value of nearly $1.3 trillion.

Bitcoin’s market cap is now $320 billion while down 20% in a week and 13% in a month, while Bitcoin is down 30% in ninety days.

market now

Contrasting with Bitcoin’s declines, it is now down 1% near the $1.24k level while losing a quarter of its value during the last wave of FTX collapse with losses of 25%.

Binance Coin fell 2% to a level of $279 while its losses increased in a week, shedding a fifth of its value, 16% as its market value fell to $44 billion.

It is now down 5% while losing 27% of its value during the last collapse as it trades near the $0.34 level with a market value of nearly $17 billion while down 60% year-to-date. has declined.

It’s down 1% while down 25% in a week, and its market cap is $11.5 billion while hovering around $0.085 as it still gets some of its profits from Musks keeps tweets and grows by 45% in one month.

It’s down 2% in a day and 20% in a week, PolygonMatic is down 1% and 18% in a week and 2% and 22% in a week.

While down 0.5%, it lost nearly 55% in the week of the crash as its market value fell below $6 billion to rank 13th among cryptocurrencies.

The OX currency fell to the $0.05 level, down 7% during today’s trading on Sunday while down 21% in a week, and its market value is $4.5 billion.

On the other hand, a currency is hovering near $5.7, down 2.2% while the currency fell 15% in the week of the collapse and its market value is $6.5 billion.

The article does not express a recommendation or nomination, but simply a monitoring of market fluctuations, since trading digital currencies involves high risks, including the risk of losing part or all of the investment amount, since it is not fully subject to the authorities and markets .


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