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Cryptocurrency has been around since the early 2000s and is being used as a mode of trading instrument by tech-geeks over the web. By the early 2010s, multiple cryptocurrencies have surfaced and have gained traction even to the common. The future of digital currency is here.
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BEHIND THE DIGITAL CURRENCY
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CURRENCY EXCHANGE
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TRADING PLATFORMS
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Month: April 2020

Bitcoin Loses More Than 40% Amidst Crisis

April 14, 2020 Gilly Proudfoot 0 Comments

The cryptocurrency Bitcoin collapsed particularly strongly with around 44 percent loss of value in the wake of the general crisis on the financial markets. Almost all cryptocurrencies are affected.

Coronavirus Outbreak Fears Weigh On Crypto

Bitcoin, Ethereum, Ripple, Litecoin and what they are all called – even the virtual currencies cannot protect themselves against the negative effects in the environment of the turmoil in the financial markets caused by the new Sars-CoV-2 coronavirus. For Bitcoin, which recently only seemed to know the way up, the decline was particularly steep, with a loss in value of around 44 percent.

On Friday morning, Bitcoin is hovering around EUR 4,600, recovering slightly. The cryptocurrency last had this value in April 2019. Viewed over periods of more than a year, however, violent price fluctuations in Bitcoin are not uncommon. The price reacts more violently than others to trading orders with comparatively high volumes. A few such orders are sufficient here.

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