Bitcoin tumbles by 49 percent within 24 hours
March 13, 2020 | Investopaper
Bitcoin suffered a plunge by almost 49 percent within the 24 hours period. As of March 12, the popular crypto was trading at $7,614.21 at 10:30 AM. Bitcoin tumbled to as low as $3,867.09 at 8 AM on March 13, as per the data from Coindesk.
However, the leading cryptocurrency quickly recovered and is trading at $5,116.96 as of 10:15 AM Friday.
The market capitalization dropped by $48.3 billion falling from $137.8 billion to $89.50 billion within 24 hours period, according to the data from Coin360. This is the highest one day drop of Bitcoin since 2013.
Other cryptocurrencies such as Ethereum and XRP also witnessed a rapid fall on Friday. Ethereum plunged by 49 percent while XRP has declined by almost 42 percent.
With the heavy crash in the global stock market amid the worries over the coronavirus pandemic, the crypto investors have also suffered huge losses.
