Hot Stories

I’m The First African Artist To Receive BET Award On Stage, Not Davido – Ice Prince Says

Shock As Pastor Gets Involved In Scandalous Row With Husband Of Church Member Over Paternity Of 4-Year-Old

Pastor Enenche And His Wife Celebrate As Daughter Graduates From Medical School (Video)

I Never Sent Anyone To Afe Babalola; Those Who Went, Did So Of Their Own Accord – Dele Farotimi

Wizkid Changed My Career – Singer, Terry Apala Opens Up

Actress, Tonto Dikeh Warns The Public About A New Scam Method

Chinese National Allegedly Orders Nigerian Soldier To Brutalise Two Workers In Lagos For Attempting To Use Back Cabin Of His Toyota Hilux

Why I Went To Prison – Rapper, Ice Prince

Ex-Kogi Deputy Speaker, Enema Paul Is Dead

Afe Babalola vs Dele Farotimi: Why Peter Obi Tried To Step In — Nzeakor

I Lost Track Of Time — Nigerian Pastor, Tobi Adegboyega Speaks On Unlawful Stay In UK, Deportation Controversy

Appreciate God For Making You Nigerian – Kizz Daniel Tells Nigerians

African Govts Should Ban Kemi Badenoch From Coming To Africa – Seun Kuti Says

Inside Finland’s Toughest Prison Where Simon Ekpa Shares Wing With Killers, R*pists

Appeal Court Sets Aside Order Restraining Release Of Funds To Rivers State

2027 Presidency: PDP Invites Goodluck Jonathan As Party’s Fate Hangs On NEC

How My Father Went From An Okada Rider To House Owner – Ola Of Lagos

Your Ancestors Are Solidly Behind You My King – Judy Austin Prays for Yul Edochie

Davido Reacts After Breaking Wizkid’s Spotify Record

How I Became Bishop Of Cherubim and Seraphim Church — Musician, Shina Peters Reveals

Bitcoin Plunge: $98bn Wiped Off Crypto Market in 24 Hours

Posted by Thandiubani on Tue 20th Jul, 2021 - tori.ng

This is after it Bitcoin reached an all-time high of approximately $65,000 in April.

Bitcoin

Bitcoin and other digital coins are currently on a free fall.

Bitcoin in particular has now dipped below $30,000 value for the first time since June 22.

This is after it reached an all-time high of approximately $65,000 in April.

Findings show that the current worth of 1 bitcoin is $29,860 (N12,260,000).

Other digital coins are recording dip.

CoinMarketCap said about $98billion was wiped off the entire cryptocurrency market in 24 hours as of Tuesday morning.

The plunge is the effect of a huge sale of shares and bonds in global stocks.

The Dow Jones Industrial Average had its worst day on Monday since October 2020.

“There’s been a broad sell-off in global markets, risk assets are down across the board,” said Annabelle Huang, partner at Amber Group.

The crypto expert, according to CNBC, observed the concerns of the quality and strength of economic recovery.

“Broader risk assets turned weaker including high yields. Coupled with recent BTC (bitcoin) weakness, this just sent crypto market down further”, Huang added.

In February, the Central Bank of Nigeria (CBN) ordered Deposit Money Banks (DMBs) to stop transacting in cryptocurrencies.

China and a number of other countries have banned the use of digital coins for financial dealings.