New collapse for Bitcoin. Crypto burns 1.220 billion in 10 days

AGI – Bitcoin collapses below $ 33,000 and is trading at $ 32,202, with a drop of 15.56% in the last 24 hours. Market capitalization thus slips to 601 billion, almost half of the highs in April. Crypto hasn’t seen such a low value since January 25, 2021.

In 10 days, cryptocurrencies burned 1.220 billion in value. This is what emerges by comparing the historical data of Coinmarketcap, the main online observatory of the value of cryptocurrencies. As of May 12, the 10,013 existing digital coins capitalized around $ 2,500 billion. In these hours their value has dropped to 1,280 billion. It all started on May 12 with a tweet from Elon Musk announcing that Tesla would no longer accept Bitcoin as a means of payment, as it is energy-intensive and unsustainable from an environmental point of view.

Added to this was the Chinese authorities’ crackdown on digital currencies, announced on May 19, which accentuated the bearish trend. Today the new collapse of Bitcoin, which alone capitalizes about 47% of all cryptocurrencies, has caused all other digital currencies to slide. Ethereum, the second largest crypto by capitalization, drops 21.68% to $ 1,847. Cardano loses 27.16% to 1.11 dollars, Dogecoin 20.29% to 0.27 dollars.

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