This Sunday has become a “disaster day” for digital currencies, with a number of cryptocurrencies crashing en masse.
Sunday (18) became a “disaster day” for digital currencies, with a number of cryptocurrencies crashing en masse. Bitcoin is now crashing, falling below $52,000 per coin, and nearly half a million people have now exploded.
As cryptocurrencies plummeted, cryptocurrencies across the internet exploded to $4.287 billion in the past hour, with more than 620,000 people exploding their positions and $5.579 billion in the past 24 hours.
The 24-hour ups and downs are calculated as bitcoin plunged 17%, ethereum plunged 20%, coin plunged 17%, ripple plunged 26%, dogcoin plunged 19%, litecoin plunged 28%, wavefield coin plunged 25% and yuzcoin plunged 29%.
Persia.com reports that bitcoin broke through the $64,000 barrier on April 13, reaching a high of $64,778. When bitcoin “players” thought it would continue to go higher, it fell back down for several days.
According to the latest data from Bitcoin Home, the number of people who lost their positions rose sharply in the last 24 hours, with 470,000 people losing their positions and 37.9 billion RMB going up in smoke.
So, what’s going on behind the scenes? Analysts quoted by brokerage China believe that the plunge that just occurred may be related to three factors: first, Turkey has been implementing a crypto payment ban since April 30, and Coindesk expects India and Morocco to introduce similar policies; second, Coinbase, a digital currency trading platform that just recently went public, was sold by executives, cashing out nearly $300 million in stock; and third, news that the U.S. Treasury Department will charge several financial institutions with using cryptocurrencies for money laundering.
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