UP

Bitcoin, crypto market slightly recover from major sell-off

Home page Economy
12 Punto 14 Punto 16 Punto 18 Punto

The price of Bitcoin and value of the crypto market recovered slightly on Monday, two days after a major sell-off amid worries related to the omicron variant of the coronavirus and risks posed by Chinese real estate developer Evergrande.

Axar.az reports that after closing Friday at $53,709, Bitcoin saw its price plummeting to as low as $42,000 early on Saturday to close the day at $49,272 for a 8.26% daily loss. Its price recovered to $48,800 as of 11.23 a.m. EDT (1623 GMT), according to official data.

The total value of the cryptocurrency market plummeted from $2.65 trillion on Friday to as low as $2.12 trillion on Saturday, losing over $520 billion in a matter of hours.

The crypto market's total value later recovered, standing near $2.26 trillion at the time, according to data by digital asset price-tracking website CoinMarketCap.

The major sell-off came as the omicron variant has provoked fear that risky assets could see major losses as in March 2020, when COVID-19 hit.

Date
2021.12.07 / 09:31
Author
Axar.az
See also

Oil prices keep rising in global markets

Oil prices rise again

Oil prices edge down

Oil prices edge down on global markets

Oil prices slightly up

Oil prices keep climbing

Oil prices rise again

Oil prices keep falling on global markets

Oil prices dip slightly on global markets

Oil prices dip slightly on global markets

Latest
Xocalı soyqırımı — 1992-ci il Bağla
Bize yazin Bağla
ArxivBağla