Values of $ 150 billion disappeared in 24 hours.
NEW YORK (Nettavisen): Cryptocurrency is now experiencing a massive decline in value in a very short time.
In 24 hours from Wednesday to Thursday, cryptocurrencies of as much as 150 billion dollars, or 1350 billion Norwegian kroner, disappeared, figures from coinmarketcap.com.
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Bitcoin down 10 percent
According to CNBC The value of Bitcoin fell by more than 7 percent in 24 hours, while ether fell by more than 8 percent.
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The latest figures at 15.30 on Friday, show that bitcoin is now down as much as 10 percent in the last 24 hours, which values the cryptocurrency at just over 38,000 dollars.
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This is the lowest value on Bitcoin since July last year.
Impairment of over 40 percent
The value of Bitcoin has plummeted since the previous peak was reached in November last year, when a bitcoin was valued at over 69,000 dollars. The fall in value is thus over 40 per cent since November.
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Ether is now down over 12.2 percent on Friday, to $ 2802. In November last year, the value of ether was around 4800 dollars.
One of the reasons for the decline is the US economy and the expectation that interest rates may rise three or four times during 2022 is also decisive.
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Experts also predict that cryptocurrency will fall further, and refer, among other things, to further regulations of cryptocurrency, and the intense price fluctuations that cryptocurrency is now experiencing, writes CNBC.
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Decline on Wall Street
The decline in cryptocurrency follows the decline on Wall Street this week. According to CNBC, the Nasdaq is down as much as five percent this week, while the S&P 500 is in its third week in a row with a decline.
Also on Friday, it started with a slight decline on Wall Street.
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