A new version of COVID-19 from South Africa has brought a lot of pain in all financial markets. As the future contracts of some of the world’s most famous companies came down, the cryptocurrency market was reorganized. Bitcoin dropped to a six-week low, while other altcoins dropped to a two-digit price.
Bitcoin and Global Markets Tumble
The first cryptocurrency was on its way to $ 60,000 yesterday recovery from the initial drop below $ 56,000. It cost about $ 500 from the coveted prizes, but it failed, and the venue changed drastically later.
Bitcoin lost $ 5,000 in a few hours to the $ 54,300 intraday, which became the lowest price since October 13. As reports in the past, this instability has caused a great deal of pain for high-income retailers as the revenue has risen to $ 700 million daily.
These prices are in line with what is happening in the global markets. Fearing new developments of COVID-19 from other African countries, future contracts for the Dow Jones, S&P 500, Nasdaq, and other popular indexes. is down.
The Dow futures are down 2%, the S&P 500 is about 1.7%, while oil prices are down sharply. US oil futures are down 5.5%.
Things in Asia are similar, with Nikkei of Japan and Hong Kong Hang Seng losing almost 2% each.
Altcoins Are Worse
Just as bitcoin moves south, so does other currencies. Ethereum exceeded $ 4,500 yesterday at one time, but a major $ 400 improvement has hit the south below $ 4,100 from now.
Binance Coin was sold north for $ 610 but has dropped to $ 580 now. Solana (-6.5%), Cardano (-5%), Ripple (-7%), Polkadot (-8.5%), Dogecoin (-7%), Shiba Inu (-2%), and Litecoin (-9%) is inside red as well.
Avalanche and the CryptoCom brand have been heavily discarded from larger alts. AVAX is down 12% to below $ 110, while a recent CRO has dropped by 20% and is below $ 0.7.
The crypto market share has dropped by about $ 200 billion per day to below $ 2.5 trillion on CoinMarketCap.
Binance Free $ 100 (Only): Use this link sign up and receive $ 100 free with 10% off Binance Futures payments in the first month (words).
PrimeXBT Special Offer: Use this link sign up & enter the POTATO50 code to get a 50% free bonus on each deposit up to $ 1750.
Disclaimer: Most of the content of CryptoPotato belongs to the authors mentioned. It does not represent CryptoPotato’s views on buying, selling, or storing any funds. You are advised to do some research before making any financial decisions. Use what is provided at your discretion. See Disclaimer for more information.
Cryptocurrency charts and TradingView.
Original Article reposted fromSource link
Disclaimer: The website autopost contents from credible news sources and we are not the original creators. If we Have added some content that belongs to you or your organization by mistake, We are sorry for that. We apologize for that and assure you that this won’t be repeated in future. If you are the rightful owner of the content used in our Website, please mail us with your Name, Organization Name, Contact Details, Copyright infringing URL and Copyright Proof (URL or Legal Document) aT spacksdigital @ gmail.com
I assure you that, I will remove the infringing content Within 48 Hours.