Cryptocurrency marketplace loses nearly a hundred billion dollars after bitcoin tanks

Finance Technology

After Bitcoin fell below $30,000 for the first time in four weeks, the cryptocurrency market lost approximately $98 billion. As a percentage of the past 24 hours, CoinMarketCap data shows that the world’s largest cryptocurrency Bitcoin trading price by market value was slightly higher than US$29,600. It is lower more than 6% from the previous day. While Ethereum and Dogecoin fell more than 8%.

Binance fell more than 12%. Driven by the surge in COVID19 infections, Bitcoin prices fell after the global market sell-off. The Dow Jones Industrial Average fell 2.1% on July 19, which was the worst day since October 2020. “There is a massive sell-off in global markets, and risky assets are everywhere,” he told CNBC.

A company that provides financial services in the Amber Group cryptocurrency field. Huang told the news channel that, “people are worried about the quality and intensity of the economic recovery. Assets with broader risks, including high returns. Together with the recent weakness of BTC (Bitcoin). This will only lead to the collapse of the cryptocurrency market.” She said.