Cryptocurrency

Bloody Sunday: Crypto Market Loses $200 Billion Within Hours

Bloody Sunday: Crypto Market Loses $200 Billion Within Hours

Bloody Sunday: Crypto Market Loses $200 Billion Within Hours

  • The crypto market came under high pressure on Sunday after major sell-offs

  • In just a few hours, the market lost over $200 billion in value, falling to $2.03 trillion

  • Flagship cryptocurrency, Bitcoin was down by more than $6000 to $55,000

The crypto market had one of the bloodiest days in recent times when over $200 billion was wiped out within a few hours.

Crypto market

Flagship cryptocurrency, Bitcoin less the drop as it fell from $61,000 to below $55,000 in a short time.

At the time of this report, the global market value of cryptocurrencies was $2.03 trillion, down by 10.42% for the day.

Much of the gains recorded earlier this week have been lost due to significant selling pressure.

Many crypto analysts have suggested that a major correction to the market since its continuous bullish run.

It is suggested that many Bitcoin investors have removed their profit after its bullish run in the past week.

Read also: Turkey Follows Nigeria’s Step, Bans Bitcoin and Other Cryptocurrency

Other cryptocurrencies to have lot value include, Ethereum(ETH), Binance Coin (BNB), and Ripple (XRP).

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