Billions lost as Bitcoin and all major cryptocurrencies crash as much as 40%
LONDON, ENGLAND - DECEMBER 07: A visual representation of the digital Cryptocurrency, Bitcoin on December 07, 2017 in London, England. Cryptocurrencies including Bitcoin, Ethereum, and Lightcoin have seen unprecedented growth in 2017, despite remaining extremely volatile. While digital currencies across the board have divided opinion between financial institutions, and now have a market cap of around 175 Billion USD, the crypto sector coninues to grow, as it continues to see wider mainstreem adoption. The price of one Bitcoin passed 15,000 USD across many exchanges today taking it higher than previous all time highs. (Photo by Dan Kitwood/Getty Images)
According to CNN Money, Bitcoin has lost a third of its value in the past 24 hours. The cryptocurrency dropped 25%, sending the Bitcoin price below $13, 000. So could that mean that the Bitcoin craze is coming to an end?
According to reports, the cryptocurrency reached $20,000 this past Sunday but dropped to $14,000 by the following Monday. Bitcoin wasn’t the only cryptocurrency that took a loss, as other currencies like Bitcoin Cash and Ethereum lost billions of dollars in total. The overall percentages crashed as much as 40%.
Source: CNN Money
Brian has been working in pop culture and media for about three decades: he’s worked at MTV, VH1, SiriusXM, CBS and Loudwire. Besides working as a writer and an editor-in-chief, he’s also appeared on air as a pundit, guested on radio shows and hosted podcasts. Over the years, he’s interviewed the surviving members of Led Zeppelin, the members of U2, Beyonce, Pink, Usher, Stevie Nicks, Lorde… and is grateful to have had the chance to interview Joe Strummer of the Clash and Tom Petty.
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