Calm before the storm: $70 Billion were wiped out in less than 2 hours as Bitcoin plunged above $31,000
The total cryptocurrency market cap was trading above $900 Billion before it suddenly drop $70 Billion in less than two hours due to Bitcoin’s and Ethereum’s correction
The world’s two largest Cryptocurrencies could be responsible for such a huge drop as both of them lost an important part of their value with Bitcoin losing almost $4,000 while Ethereum plunged almost $250.
Ethereum drops from $1,170 to $963
Last few days, Ethereum is the currency that impresses the crypto market cap with its price moves as it has finally breached the psychological 4-digit level and marked another yearly All-Time High record at $1,170.
However, the world’s second largest coin couldn’t manage to stay above $1,000 and plunged a few hours later at $963 where it currently trades (at the time of writing these lines).
Bitcoin plunges below $31,000
Bitcoin was nicely trading above $34,800 marking a new All-Time High record before it drop at $33,300 and a few hours later at $30,400 losing almost $3,000 of its value leading the total Cryptocurrency market cap from $910 Billion down to $840 marking a huge loss of $70 Billion.
What is next to see is if this huge plunge is just a correction which will lead to another Bullish race, or maybe not?
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