Bitcoin loses more than a fifth of its value and worries in the markets

The bitcoin came to miss this saturday one fifth of its value, because a combination of profit taking and macroeconomic concerns triggered sales worth nearly billion dollars in cryptocurrencies.

The bitcoin was down 12% at 0920 GMT, to $ 47,495, after plummeting 22% to $ 41,967.5 earlier in the session.

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The broad wave of cryptocurrency sales it also caused a more than 10% ether crash, the currency linked to the blockchain network ethereum.

According to the data platform of cryptocurrencies Coingecko, the market capitalization of the 11,392 coins that tracks fell almost 15%, at $ 2.34 trillion. That value briefly topped $ 3 trillion last month, when bitcoin hit a record high of $ 69,000.

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The crash occurs after a volatile week for financial markets. Global stocks and benchmark U.S. Treasury yields fell on Friday on data that showed U.S. job growth slowed in November as the omicron variant of the coronavirus kept investors nervous.

Data from another platform, Coinglass, showed that almost a billion Dollars on cryptocurrencies in the last 24 hours, and most of it was done on the digital exchange platform Bitfinex.

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Helen Hernandez is our best writer. Helen writes about social news and celebrity gossip. She loves watching movies since childhood. Email: Phone : +1 281-333-2229

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