Bitcoin and ether prices fall sharply – .

0
13
Bitcoin and ether prices fall sharply – .


Bitcoin and Ether are the two most important cryptocurrencies.
Jaap Arriens | NurPhoto | Getty Images
Bitcoin prices fell sharply in the early morning ET on Saturday, plunging more than 10% to a low of nearly $ 43,000.
The world’s largest cryptocurrency subsequently slashed its losses, changing hands to around $ 47,133. Still, bitcoin has fallen more than 16% in the past 24 hours, according to Coindesk.

The price of ether also plunged, falling more than 10% to a low of nearly $ 3,500. It returned a bit later, trading at close to $ 3,870.

Ether, the world’s second largest digital coin by market value, has lost more than 14% in the past 24 hours, according to Coindesk.

The two cryptocurrencies have experienced turbulent trading since the emergence of the omicron Covid variant, following global stock markets which have also been volatile. On November 26, bitcoin hit a seven-week low at nearly $ 54,000, officially entering bear market territory.
Bitcoin is now down about 30% from an all-time high of nearly $ 69,000, which it reached in early November. Bear markets are generally defined as a drop of 20% or more from recent highs.
Major Averages on Wall Street also posted a losing week as the market wrapped up a roller coaster week driven by concerns over the omicron variant of Covid.

LEAVE A REPLY

Please enter your comment!
Please enter your name here