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$260 billion wiped off crytpocurrency market in 24 hours as bitcoin plunges below $50,000

$260 billion wiped off crytpocurrency market in 24 hours as bitcoin plunges below $50,000

4/23/2021 9:23:00 AM

$260 billion wiped off crytpocurrency market in 24 hours as bitcoin plunges below $50,000

Bitcoin and other cryptocurrencies plunged on Friday as the market cools off following a huge rally this year.

This wiped out around $260 billion of value from the entire cryptocurrency market.It was unclear what triggered the sell-off though cryptocurrencies are known for their wild price swings."The market has run up quite a bit overall, and it's probably cooling off before the next leg up," Vijay Ayyar, head of business development at cryptocurrency exchange Luno, told CNBC by email.

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On Thursday, U.S. stock indexes fell after reports thatPresident Joe Biden is considering a hike in the capital gains tax."There has also been a wider stock market dip, which might be affecting all risk-on assets," Ayyar added.This year alone, bitcoin has risen 71% and ethereum has rallied 200%.

Read more: CNBC »

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Margin calls. Forced liquidation of overleveraged traders. This is why I choose to trade in spice Where did it go? Bullish. The most mainstream market adoption I have ever seen in Bitcoin history and people STILL doubt what it can do here. Sceptics leave the room, the adults will take over now. People unnecessarily panic; why panic? What will be will be; it's still not going to stop anybody from trading cryptocurrencies is it? People still have to make a living, don't they? 'Get on with your day man & trade'! SAFEMOON SafeMoonCommunity CryptoNews

Biden fucked ass plan caused that shit CNBC HAS NO CLUE!!! BITCOIN IS ABOUT TO 🚀🚀🚀🚀🚀🚀🚀🚀 IN A FEW MINUTES 😁😁😁 BTFD Discounts, Discounts. mstrade

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I want to buy Bitcoin during the dip. What’s the minimum I can invest? Can I buy via CashApp? Bro I was told this was a “store of value.” AndyFSports Time to buy? Some people see red and panic.. some people see red and buy.. which person are you? 🤔 BTC ETH Dm Not a plunge yet. $5 soon along with TSLA stock. That is a plunge.

thank you sleepingyellen I just want cheap GPUs keep going down People should learn to diversify their investment portfolio rather than stacking it all in one basket. These trends will always repeat themselves overtime

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Tax NFT's while we're at it too. Pay your taxes. I'd love to be a proud taxpaying millionaire. If you need a trading bot with 80% efficiency, please send a DM. Works on Metatrader 4 and 5. Bitcoin is a swarm of cyber hornets serving the goddess of wisdom, feeding on the fire of truth, exponentially growing ever smarter, faster, and stronger behind a wall of encrypted energy. Follow me and I’ll guide you on how to earn massively using an automatic trading platform

doge is trash. buy btc 😆🤣😆 😭 But... the moon...

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FrancisSuarez Let’s place Miami’s finances in Bitcoin you say ?..... How can I help..... myself. Not a good idea Mayor it'll bounce back haters. That money is not real, it's just a market cap based on the price. Hedgies BTFD Speculation, wash-trade CNBC should be sued for pumping bitcoin. It was a scam anyway

I guess they weren't having fun becoming poor?

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Don't worry, you can still buy a Tesla with a bitcoin. Pengen ketawa tapi taku dosa Crypto is very good investment to be in your portfolio but should be a part of your portfolio not all of it. Make sure to have funds and some equities. Not sure how to make good portfolio do connect with me People holding BTC for years are happy right now. They just get 25% off from market price after hitting all time highs last week

All the “I really want a dip so I can buy” people are probably too scared to buy now. btc rn Please send me bitcoin.🙏🏾🙏🏾🙏🏾🙏🏾🙏🏾🙏🏾🙏🏾 Let me know what it feels like to have this wonderful cryptocurrency 😭😭😭 bc1qx3j8qnar8ke4tf66xz4r4wvpqy67f3pu604ypw Can i still buy a tesla wwith bitcoin? Will they even accept it?

If you can not win them, then join then! How true. Major banks/regulators all over the world are afraid of crypto revolution, and they don't get the idea that they can not win crypto in technology as well as wide spread adoption by the masses. Y’all need to buy algorand and collect that 6% from coinbase

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Still wondering why it will be difficult to accept BTC as an institutional currency? It is best described as an equity and not a currency. Cha Ching We cannot drink oil. We cannot drink lithium. How many billions were added in last 6 months? Not a big that in that context 😯! OthmaneOC7 $50000 is still beyond insanity for bitcoin

It is 48,780 dollars from 52,120 dollars highest it been was 64,863 that was two months ago wanderngthebchs 🤑🤑😱 $DOGE just halved so... All I see is black Friday pricing on Bitcoin and Altcoins. Remember, just like stocks, you only lose $ when you sell low. Literally 6 hours ago trying to throw it on viewers.

There's Only 1 Original Rare Michael Jordan Viral Video and Tupac Shakur Photo Being Sold as High Price NFT's on opensea. Link- vigsun viananda ethereum trx michaeljordan 2PAC Jumpman23 beeple Bitcoin CNN elonmusk PRguitarman NFTs Coinbase You can lose 10K dollars in 4 hours on one bitcoin

Still 50k overpriced. $0 intrinsic value. ponziCoin scam Meanwhile, the dollar is unremarkable - as a currency should be.

Paper hands. Bitcoin HODL 📈🚀 Institutions getting ready to cover their shorts in GameStop and AMC, here comes the MOASS WHEN THE TIDES GOES OUT, WHAT WILL WASH ASHORE IN BITCOIN LAND? Why was Trump banned? Buy the dips dogecoin mood swings of crypto are scary Stay strong xrp holders