Buzz Update Bitcoin falls under $ 19k, Ether drops past $ 1k – Gulf Insider TOU

Buzz Update Bitcoin falls under $ 19k, Ether drops past $ 1k – Gulf Insider
 TOU

Bitcoin falls under $ 19k, Ether drops past $ 1k – Gulf Insider

Cryptocurrencies plummeted in the market with Bitcoin falling below $ 19,000 and Ether dropping past $ 1,000, as fears of a broader economic recession are looming over business verticals.

Bitcoin, the world’s leading cryptocurrency fell 9.57 percent on Sunday, and is being traded at $ 18,459 as of 07.53 am Saudi time. Ethereum, the second most traded cryptocurrency, is priced at $ 963, down 10.60 percent, according to data from Coindesk.

A Bloomberg report revealed that Bitcoin’s value plummeted drastically by 15 percent on Saturday, and at one point in time, it reached $ 17,599. Ether fell as much as 19 percent to $ 881 on Saturday, the lowest since January 2021.

Data from Coinglass suggested that total liquidations in the Crypto market were around $ 566 million in the last 24 hours, with Bitcoin and Ether at around $ 271 million and $ 192 million respectively. Bitcoin has now lost almost 70 percent of its value since it reached its peak in November 2021, when the virtual currency was valued at over $ 68,000.

The overall market value of cryptocurrency assets has fallen from $ 3 trillion to less than $ 1 trillion, according to coinmarketcap.com, which tracks crypto prices. As of Saturday afternoon the company’s data showed crypto’s global market value stood at about $ 816 billion.

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