Thursday 12th of March, is really a bad day for bitcoin and the entire cryptocurrency market. The first digital currency in the morning was worth at around $ 7950, and now it has fallen to $ 5720 on the Bitstamp platform.
The weighted average BTC rate is $ 6,000, with a cryptocurrency capitalization of just over $ 109.624 billion. Over the past 24 hours, bitcoin has fallen by 23.5%. The total value of all cryptocurrencies at the time of publication of this material amounted to just over $ 167.029 billion.
Together with Bitcoin, the price of all the largest altcoins has decreased. Ethereum and XRP fell in price by 30% to $ 135 and $ 0.152, respectively. The biggest losses from the top ten cryptocurrencies were suffered by the Tezos coin, which fell to $ 1.61 (-37%).
Bitcoin last traded below $ 6,000 at the beginning of May last year. Today’s coin fall has become one of its most significant one-day weakenings since its inception in 2009.
According to recent data, long positions totaling up to $ 680 million were liquidated on the BitMEX exchange. The CryptoCompare portal recorded the conclusion of more than 11,000 transactions in two minutes on 230 platforms. Financier Peter Schiff once again took advantage of the fall of Bitcoin and tweeted that “air comes out of the bubble.”
According to some experts, today’s turbulence in the cryptocurrency market is the result of panic among investors. A similar situation is observed in the stock and energy markets.