More
    spot_img

    Bitcoin last fell 7.4% at $18,915 in the latest cryptocurrency crashBitcoin fell 7.46% to $18,915.29 at 15:59 GMT on Saturday, losing $1,525.41 from the previous closing. The world’s largest and most well-known cryptocurrency is down 60.8 percent from its all-time high of $48,234 on March 28.

    On Monday, the global cryptocurrency market capitalization dipped below the symbolic $1 trillion level, after exceeding $3 trillion in November of last year.

    After falling to $18,740 on Saturday, Bitcoin climbed to $18,941 at 1550 GMT, up 8% from the previous day. On Saturday, Ether, the cryptocurrency tied to the Ethereum blockchain network, fell 8.84 percent to $988.52, shedding $95.9 from its previous close.

    World stock markets fell this week on worries that the US Federal Reserve and other central banks’ interest rate rises to combat inflation may spark a recession. Cryptocurrencies have borne the most cost.

    The stoppage of withdrawals by two cryptocurrency companies has hastened Bitcoin’s decline. Due to “extreme market circumstances,” the Celsius Network has halted “all withdrawals, swaps, and transfers between accounts.” Babel Finance reported “exceptional liquidity pressures.”

    Important transaction Binance momentarily halted bitcoin withdrawals and recommended consumers to utilise other networks. Coinbase said on Monday that it was cutting 18% of its staff, or around 1,100 people, blaming tight economic circumstances and extremely quick development.

    “We look to be facing a recession after a 10+ year economic boom,” stated Coinbase founder and CEO Brian Armstrong.

    In recent years, the crypto industry has benefitted from a massive injection of capital as a result of easy-money policies implemented by the world’s largest central banks. However, excessive inflation has prompted stricter monetary policies throughout the world, contributing to the industry’s demise.

    Stay in the Loop

    Get the daily email from CryptoNews that makes reading the news actually enjoyable. Join our mailing list to stay in the loop to stay informed, for free.

    [tds_leads input_placeholder="Your email address" btn_horiz_align="content-horiz-center" pp_checkbox="yes" pp_msg="SSd2ZSUyMHJlYWQlMjBhbmQlMjBhY2NlcHQlMjB0aGUlMjAlM0NhJTIwaHJlZiUzRCUyMiUyMyUyMiUzRVByaXZhY3klMjBQb2xpY3klM0MlMkZhJTNFLg==" tdc_css="eyJhbGwiOnsibWFyZ2luLWJvdHRvbSI6IjAiLCJkaXNwbGF5IjoiIn0sImxhbmRzY2FwZSI6eyJkaXNwbGF5IjoiIn0sImxhbmRzY2FwZV9tYXhfd2lkdGgiOjExNDAsImxhbmRzY2FwZV9taW5fd2lkdGgiOjEwMTksInBvcnRyYWl0Ijp7ImRpc3BsYXkiOiIifSwicG9ydHJhaXRfbWF4X3dpZHRoIjoxMDE4LCJwb3J0cmFpdF9taW5fd2lkdGgiOjc2OCwicGhvbmUiOnsiZGlzcGxheSI6IiJ9LCJwaG9uZV9tYXhfd2lkdGgiOjc2N30=" input_border="0" input_radius="eyJhbGwiOiI2cHggMCAwIDZweCIsImxhbmRzY2FwZSI6IjVweCAwIDAgNXB4IiwicG9ydHJhaXQiOiI1cHggMCAwIDVweCJ9" btn_bg="#10bf6b" btn_bg_h="#333237" f_btn_font_family="420" f_btn_font_size="eyJhbGwiOiIxMyIsImxhbmRzY2FwZSI6IjEyIiwicG9ydHJhaXQiOiIxMiJ9" f_btn_font_line_height="eyJhbGwiOiIzLjYiLCJsYW5kc2NhcGUiOiIzLjMiLCJwb3J0cmFpdCI6IjMuMyJ9" f_input_font_line_height="eyJhbGwiOiIzLjYiLCJsYW5kc2NhcGUiOiIzLjMiLCJwb3J0cmFpdCI6IjMuMyJ9" f_input_font_family="420" f_input_font_size="eyJhbGwiOiIxMyIsImxhbmRzY2FwZSI6IjEyIiwicG9ydHJhaXQiOiIxMiJ9" input_padd="eyJhbGwiOiIwIDE1cHggMXB4IiwibGFuZHNjYXBlIjoiMCAxM3B4IDFweCIsInBvcnRyYWl0IjoiMCAxMHB4IDFweCJ9" btn_padd="eyJhbGwiOiIwIDE1cHggMXB4IiwibGFuZHNjYXBlIjoiMCAxM3B4IDFweCIsInBvcnRyYWl0IjoiMCAxMHB4IDFweCJ9" btn_radius="eyJhbGwiOiIwIDZweCA2cHggMCIsImxhbmRzY2FwZSI6IjAgNXB4IDVweCAwIiwicG9ydHJhaXQiOiIwIDRweCA0cHggMCJ9" pp_check_color="#a0a0a0" pp_check_square="#000000" pp_check_border_color="rgba(16,191,107,0)" f_pp_font_family="420" pp_check_bg="rgba(255,255,255,0.6)" pp_check_size="eyJhbGwiOjE0LCJsYW5kc2NhcGUiOiIxMyIsInBvcnRyYWl0IjoiMTMifQ==" msg_composer="" f_title_font_family="420" msg_space="eyJsYW5kc2NhcGUiOiIwIDAgMTBweCIsInBvcnRyYWl0IjoiMCAwIDEwcHgifQ==" f_title_font_size="eyJsYW5kc2NhcGUiOiIxMCJ9" f_msg_font_size="eyJsYW5kc2NhcGUiOiIxMCIsInBvcnRyYWl0IjoiMTAifQ==" f_pp_font_size="eyJsYW5kc2NhcGUiOiIxMCIsInBvcnRyYWl0IjoiMTAifQ==" pp_space="eyJsYW5kc2NhcGUiOiIxNCIsInBvcnRyYWl0IjoiMTAifQ==" pp_check_color_a_h="#ffffff"]

    Latest stories

    - Advertisement - spot_img

    You might also like...