Bitcoin and Ripple’s wider cryptocurrency market, including Ripple’s ethereum, XRP and cardano, were hit by a sudden crash early Sunday morning, lowering prices (although Elon Musk’s crypto-favecoin “fav” remains constant).
The price of bitcoin, which this week had a downward trend to $ 60,000 on bitcoin, fell by more than 10% to just over $ 50,000. The price of bitcoin has returned to some extent to trade around $ 55,000, but remains at a certain distance from its last highs of almost $ 65,000.
Ahead of the flash crash of cryptocurrencies, the removal of $ 300 billion from the combined market bitcoin, ethereum, XRP, cardano and a market larger than $ 2 trillion, bitcoin bull and Galaxy Digital CEO Mike Novogratz warned of a “money laundering ” in front of.
A flash crash of cryptocurrencies sent the price of bitcoin, etheruem, Ripple XRP and cardano … [+]
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“Next week, we could certainly have some volatility because of the enthusiasm around Coinbase,” Novogratz said. MarketWatch this week, pointing to the much-hyped Nasdaq
NDAQ
The price of bitcoin rose to almost $ 65,000 on bitcoin this week, up about 800% from this time last year, before collapsing early Sunday morning. The exact cause of the collapse in bitcoin and crypto prices was not immediately clear, however, some said China’s power outages will be affected by those who maintain the bitcoin network, known as miners, offline and unconfirmed reports of crackdown. regulation of bitcoin and cryptocurrencies.
The long-awaited list Coinbase also sent the price of the major cryptocurrency ethereum, XRP Ripple, binance and cardano suddenly larger, with dogecoin, a meme-based cryptocurrency created as a “joke”, adding an astonishing 400%.
“I’ve seen a lot of weird coins like the dogecoin and even the XRP have huge retail peaks, which means there’s a lot of frenzy right now,” Novogratz said. “That never ends well, and so we’ll probably have a wash at some point.”
Dogecoin, a memecoin that has seen its value grow as retailers have been stimulated by Tesla
TSLA
Meanwhile, XRP, a cryptocurrency controlled by Ripple, has been down 500% in the past six months, despite an ongoing lawsuit filed by the US Securities and Exchange Commission (SEC), accusing the company and its directors of fraudulent investors.
The price of bitcoin rose sharply early on Sunday morning, falling backwards after rising forward … [+]
Coinbase
The price of bitcoin, still almost double that of the beginning of the year, has risen as long-awaited institutional investors are finally warming up to bitcoin and bitcoin is strengthening its reputation as a value store due to the fact that Musk’s Tesla offered bitcoin his surprising support.
Ethereum, cardano and similar cryptocurrencies grew last year before the 2021 race, amid growing interest in decentralized finance (DeFi). The price of ethereum has risen to all-time highs in recent weeks as the bull race has accelerated, adding over 1,000% in the last 12 months.
Coinbase’s IPO of the week in San Francisco, one of the largest bitcoin and cryptocurrency exchanges in the world, has been called the “Netscape moment” of crypto, with some bitcoin market observers predicting that the IPO will announce the start of a ” blockchain boom ”, similar to the explosion of internet companies in the late 1990s.