Cryptocurrency Market Loses $50 Billion in One Hour Amid FUD
Login

Cryptocurrency Market Loses $50 Billion in One Hour Amid FUD

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:


Crypto investors, prepare to hold on tight to your seats because the cryptocurrency market has taken a nosedive! In just one hour, it lost a whopping $50 billion from its market capitalization. We know, we know, that’s a lot of zeroes. But don’t worry; we’ve got all the details on what went wrong.

Firstly, the crash of Silvergate, the crypto bank, was a significant blow to the market. Its stock price fell by over 55%, and it announced that it would not be able to file its annual report with the SEC on time.

As if that wasn’t enough to send shivers down crypto investors’ spines, the upcoming Consumer Price Index (CPI) report at the Federal Reserve’s March meeting could indicate an acceleration of inflation by as much as 50 basis points (bps). That’s a fancy way of saying that prices might be going up, up, up! Cue the dramatic music.

Cryptocurrency Market LosesBillion in One Hour Amid FUD
Total Market Cap

Mt.Gox BTC Pump Scaring Cryptocurrency Investors

And let’s not forget the elephant in the room: the possible Bitcoin price slump due to Mt. Gox creditors receiving massive reimbursements. It’s enough to make anyone feel uneasy, and it’s no wonder that the crypto market is experiencing fear, uncertainty, and doubt (FUD).

All of this has put a damper on the optimism that many crypto investors have been feeling since the year began. In fact, the largest cryptocurrencies by market capitalization have seen a decline in their gains, with Bitcoin’s price dropping by 4.23% on the day. Yikes!

It remains to be seen whether the cryptocurrency market can recover from this sudden decline, but one thing’s for sure: it’s a wild ride for crypto investors. So hold on tight, folks, and let’s see where this rollercoaster takes us next!

 

You can purchase Lucky Block here. Buy LBLOCK

 

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News