Why did Bitcoin lose $ 14 billion after Biden’s victory was announced?



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Hours after the announcement by the American media of the victory of Democratic candidate Joe Biden, digital currencies had turned into difficult losses. This may be due to rumors of Biden’s work to worsen losses in the US dollar and the surge in safe-haven assets, led by gold.

In the past few hours, digital currencies have lost around $ 13.7 billion, a decline of around 3.1%, with their combined market value falling from $ 441 billion trading on Friday to around 427. $ 3 billion at the end of negotiations on Saturday.

At the top of the losing currencies was the ‘Bitcoin’ currency, the most powerful and prevalent in the cryptocurrency market, topping the list of losing currencies as it fell 5.1%, losing about $ 794 after its price fell from $ 15,549 in Friday’s trading to around $ 14,755 at the end of trading. yesterday.

In terms of total market value, it fell 5.1%, losing about $ 14.7 billion, after its combined market value fell from $ 288.2 billion at the end of Friday’s session to roughly $ 273.5 billion at the end of Saturday’s session.

The “Ethereum” currency also fell 4.88% to around $ 433. Its combined market value has fallen to around $ 49 billion. In contrast, the currency “Tizer” rose 0.13% to around $ 0.247. The combined market value has grown to around $ 17.2 billion.

While the currency “X-Ripple” has fallen in the last 24 hours by 4.23%. Its combined market value was $ 11.23 billion.

Bitcoin Cash also plunged 2.36% to $ 251. Its total market value has fallen to about $ 4.6 billion.

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