Over the past 24 hours, the leading cryptocurrency has shown a dramatic decline. According to statistics from the web portal CoinDesk, the maximum price of bitcoin in the last 24 hours was $57 652, a the minimum has reached a level of only $ 42,019 .
The collapse of bitcoin inevitably led to the depreciation of other cryptocurrencies. Ethereum, the second-largest cryptocurrency by market capitalization, fell 17.4 percent in the past 24 hours. According to tracker CoinGecko, which continuously monitors almost all cryptocurrencies, the market capitalization of digital money has fallen by about one to about $ 2.2 trillion.
The high volatility of cryptocurrencies occurs against the background of the general instability of the financial markets. The sharp rise in inflation has forced central banks to tighten their credit and monetary policies. Bloomberg reported a 10 to 20 percent drop in the share price of US technology giants, including Tesla, Nvidia, Netflix and Meta. Another factor is the emergence of a new strain of coronavirus. Omicron, like other strains of the new coronavirus, has dramatically pushed the world economy back. Bloomberg adds that the average global decline in stocks has reached about 4%.
According to information provided by the platform Coinglass.com, cryptocurrency assets totaling about $ 2.4 billion were liquidated this Saturday. Bitcoin volatility is expected to continue too high.
—
