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Investing.com – In a sudden and abrupt turn in the bitcoin-led cryptocurrency movement, the crypto aggregator appears to have slashed gains in recent sessions, after bitcoin fell sharply below 50 levels $ 000.
$ 250 billion
The 50 largest digital currencies in the crypto market were swept away by a strong wave of declines that only a currency that rose around 8% during those times escaped.
In less than two hours, cryptocurrency market capital lost over $ 250 billion, dropping the market value from $ 2.35 trillion to less than $ 2,097 trillion.
The currency is now down more than 13%, after sharply exceeding 52,000 levels, and that drop comes against the backdrop of the announcement that the currency is facing difficulties in its first day as a as official currency in El Salvador.
Although President Nayib Bukele announced a few minutes ago that El Salvador’s Bitcoin holdings had risen to 550 after adding 150 new coins, Bitcoin has lost nearly $ 8,000 in the past few hours, falling to 44. $ 000.
The market was up madly again in recent days, but is now back, amid the influx of negative news and long-awaited profit-taking.
Altcoins
The losses of alternative currencies intensified sharply, causing a strong wave of depreciation that exceeded 20% in many of them.
The news also worsened with a currency falling by more than 25% in one session, amid doubts about the integrity of the Olonzo network.
Another currency fell more than 22%, while Ethereum, the second largest altcoin, fell to levels of $ 3.38k, down 14%.
Binance Coin fell about 18% to the $ 408 levels and more than 20% to the $ 0.244 levels.
McDonald’s (NYSE 🙂
After President’s legal adviser Neb Bokhel said companies that refuse to accept Bitcoin will suffer repercussions, international companies operating in the country are also forced to add the main cryptocurrency as a new payment option now that it has been officially recognized as being legal tender.
This morning, the Salvadoran president called on big business to release bitcoin, referring to the need to accept payments in the country after adopting it as the official currency.
Global restaurant chain McDonald’s announced that citizens of El Salvador can now pay for their favorite hamburger with Bitcoin at McDonald’s stores.
A recent poll showed Salvadorans are puzzled over accepting bitcoin payments, with around 70% of the population opposing the law, according to a recent poll.
The article does not express a recommendation or appointment, but simply a monitoring of market fluctuations, as digital currency trading involves high risks, including the risk of losing all or part of the investment amount, knowing that ‘it is not fully submitted to the financial authorities. and markets.
Fusion media or anyone involved with Fusion Media will accept no responsibility for any loss or damage resulting from reliance on any information, including data, quotes, graphics and buy / sell signals contained in this website. Please be fully informed about the risks and costs associated with trading in the financial markets, it is one of the riskiest forms of investing possible.
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