Bitcoin prices plunged more than 10 percent on Saturday morning to a low near $43,000. Ether also suffered.
Bitcoin, the world’s largest cryptocurrency, has been over . in the last 24 hours 16 percent down in value, according to Coindesk. Bitcoin already lost about $2,000 on Friday evening and after a free fall on Saturday morning, the cryptocurrency reached a low of about $43,400. After that, the price stabilized at around EUR 47,500.
The price of Ether hit a low of around $3,500. After that, the currency recovered somewhat and traded around USD 3,950. Ether’s loss of the past 24 hours thus amounts to about 14 percent.
Rumbling on crypto markets
On November 26, when the new corona variant Omikron suddenly made world news, Bitcoin hit a seven-week low, close to $54,000, marking the end of the year. in bear market area came. A bear market is usually defined as a decline of 20 percent or more from recent highs.
Last week caused rumblings in crypto markets. Crypto investors made themselves Concerns about the emergence of the new corona variant. Fed Chair Jerome Powell also made several worrying statements this week about rising US inflation.
Legendary investor Charlie Munger, the loyal lieutenant of top investor Warren Buffett, also lashed out at crypto coins on Friday. According to the 97-year-old investor, Beijing has made a good choice by finally banning cryptocurrencies. Munger even wished that decentralized technology had never been invented.
Record level
Bitcoin is now down about 30 percent from its all-time high of $69,000 in early November.
The most important stock prices on Wall Street also made a loss.
With contribution from Jeremy Van der Haegen
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