The price of Bitcoin plummeted 10% in 12 hours and the cryptocurrency market lost almost $300 billion on Friday as a new coronavirus variant created fear across markets around the world.
After climbing to as high as $59,400 late Thursday, the price of Bitcoin dove to $53,500 around 7 a.m. EDT (1200GMT) on Friday for a 10% decline, according to data calculated by Anadolu Agency.
Ethereum, the world’s second-largest cryptocurrency, fell 14% to $3,910, from $4,550, during that period. Some altcoins fell as much as 20% in half a day before showing some limited recovery.
The total value of the crypto market decreased to $2.39 trillion, from $2.68 trillion, losing a staggering $290 billion, according to data by digital asset price-tracking website CoinMarketCap.
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