Where the Comment is King

THE NEWS COMMENTER

VOTE  (0)  (0)

Bitcoin Plunges Over 20% in Another Sign of Global Market Nerves

Added 12-04-21 02:04:02am EST - “(Bloomberg) -- Bitcoin plunged along with other cryptocurrencies on Saturday, in another indication of the risk aversion sweeping across financial markets.Most Read from BloombergThe Hot New Trend For Hedge Funds Is?"Finally?"Female…” - News.yahoo.com

CLICK TO SHARE

Posted By TheNewsCommenter: From News.yahoo.com: “Bitcoin Plunges Over 20% in Another Sign of Global Market Nerves”. Below is an excerpt from the article.

(Bloomberg) -- Bitcoin plunged along with other cryptocurrencies on Saturday, in another indication of the risk aversion sweeping across financial markets.

The largest digital token fell as low as $42,296 before paring some of the tumble. It was trading at about $47,600 as of 1:50 p.m. in Singapore on Saturday, a drop of about 11%.

Ether, the second-largest token, fell as much as 17.4% before trimming the retreat to about 10%. The overall crypto sector has shed around a fifth of its value, sliding to $2.2 trillion, according to tracker CoinGecko.

The swings in cryptocurrencies come amid a volatile period for financial markets. Spiking inflation is forcing central banks to tighten monetary policy, threatening to reduce the liquidity tailwind that lifted a wide range of assets.

The omicron variant of the coronavirus has also led to risk aversion over concerns about what it might mean for global economic reopening.

Read more...

If you don't see any comments yet, congrats! You get first comment. Be nice and have fun.

Comment Box is loading comments...

CLICK TO SHARE

BACK TO THE HOME-PAGE