Crypto market erase over $60b. in just 24 hours

05.02.2018 / 17:45

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Bitcoin dropped below $ 800 for the third time in the past 4 days, with the currency dipped over $ 60 billion today.

On Friday, Bitcoin fell below $ 8,000 for the first time since November 24. After that, the crypto market more than $9,000, and dropped below $8,000 over the weekend. Bitcoin is currently trading with a daily decline of -13.87%, with some stock exchanges falling below $6,000.

Bitcoin is not the only cryptocurrency that has dropped today. The other major cryptocurrencies, including Ethereum and Ripple, dropped sharply in the last 24 hours. Market capitalization or the value of the entire cryptographic market fell to $365.27 billion, according to coinmarketcap.

The intentions of the Indian finance minister to drastically increase the regulation of crypto-lows in the country were obviously enough to provoke the massive Sell Off that we have seen over the last few days.

Big banks are also beginning to restrict the use of their crypto-lump purchase services. On Monday, UK Lloyds Banking's large lenders said they stopped offering their customers using credit cards. This move is followed by US banks - JP Morgan, Bank of America and Citigroup.

Source: Bloomberg Pro Terminal

Jr Trader Petar Milanov

Varchev Traders

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Crypto market erase over $60b. in just 24 hours

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