Cryptocurrency Market Loses $50 Billion in One Hour Amid FUD

Updated:

Checkmark

Service for copy trading.

Checkmark

High profitable signals.

Checkmark

24/7 cryptocurrency trading.

Checkmark

10 minute setup with significant benefits.

Checkmark

79% Success rate.

Checkmark

Up to 40 trades per month.

Checkmark

Monthly subscriptions begin at £58.



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 Loses $50 Billion 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
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • 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
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.