Symbolic Bitcoin coin: The digital currency has again lost massive value. Image: KEYSTONE
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Crypto mess reloaded: Bitcoin keeps crashing
Bitcoin continues to crash. The most significant cryptocurrency fell below the $ 4,000 mark on the night of Friday, the lowest level in around a year.
At night, Bitcoin reached a low of around $ 3,950 on the European trading platform Bitstamp, which means that it has lost around a third of its value within 24 hours. In the morning, the price recovered to over $ 5,100.
Bitcoin and the other cryptocurrencies have been on a downward trend since the weekend. As early as February, the cryptocurrency was trading at an annual high of around $ 10,500.
Confusing situation
Furthermore, the panic on the stock markets does not stop at Bitcoin and Co., comments the German Emden Research. The situation is now completely confusing and out of control. Many investors are currently on the brink of a total loss: “The nerves are literally bare,” says analyst Timo Emden.
Investors exchanged crypto assets for cash in order to offset losses from other asset classes, comments the German analyst. Meanwhile, other observers referred to reports on social media: The fall to the annual low followed after Twitter reports, according to which the trading platform Bitmex used for derivatives trading on cryptocurrencies was temporarily “offline”.
(dsc / sda / awp)
