Bitcoin price plunges, other cryptocurrencies crash
India Today
Bitcoin's price crashed 10 per cent at one point in time and was hovering way off the $40,000 mark. Ethereum, also tanked and fell below $3,000-mark.
Bitcoin plunged and other cryptocurrencies were in red as volatility has gripped the global crypto market, according to CoinDesk.
Amid the persistent high inflation, investors were apprehensive about the global economic recovery.
Bitcoin's price crashed 10 per cent at one point in time and was hovering way off the $40,000 mark. The world's second largest cryptocurrency, Ethereum, also tanked and fell below $3,000-mark.
Cryptocurrency price on Friday fell by over 8 per cent to $36,426. Ethereum price was down by more than 6 per cent to $2,745.
"Bitcoin, Ethereum, and most cryptocurrencies dropped after a day-long relief rally on Thursday. BTC dropped nearly 10%, reversing yesterday’s breaking below its support levels, and it may also break below the current level," Edul Patel, CEO and Co-founder of Mudrex, said.
XRP was down by over 5 per cent, Terra fell by more than 6 per cent, Solana price was down over 11 per cent, Cardano fell by over 8 per cent, Avalanche was down by over 12 per cent, and Stellar crashed over 9 per cent.
Other popular alt coins Dogecoin fell by over 4 per cent and Shiba Inu was down by more than 5 per cent.
