Sat. Jan 22nd, 2022

Businesswoman selling cryptocurrency through a mobile app
Crypto expert CALV! N from Purebase Studios says buying and holding will give beginners higher returns than trading

  • Bitcoin prices fell sharply on Saturday, bringing total losses to 22%.
  • A broad crypto sale also saw ether, the coin linked to the ethereum blockchain network, dive more than 10%.
  • The dive follows a volatile week for the financial markets.

Bitcoin tossed a fifth of its value on Saturday as a combination of profit-taking and macroeconomic concerns triggered nearly a billion dollars in cross-currency sales.

Bitcoin was 12% down at 0920 GMT to $ 47,495. It fell as low as $ 41,967.5 during the session, bringing the total loss for the day to 22%.

The broad sales in cryptocurrencies also saw ether, the currency linked to the ethereum blockchain network, dive more than 10%.

Based on the cryptocurrency data platform Coingecko, the market value of the 11,392 coins it tracks fell nearly 15% to $ 2.34 trillion. That value had briefly crossed $ 3 trillion last month when bitcoin hit a record high of $ 69,000.

The dive follows a volatile week for the financial markets. Global equities and benchmark US bond yields fell on Friday, after data showed that US job growth slowed in November and the Omicron variant of coronavirus kept investors on edge.

Leave a Reply

Your email address will not be published. Required fields are marked *