On Monday afternoon, the world’s first cryptocurrency Bitcoin trading has been striking downwards to $30k.
looking at the graph it can be said that since the morning the plunge of Bitcoin has been started and changed hands at $30.8K a little before 3:30 p.m. E.t.
The world’s second-largest cryptocurrency Ethereum also dropped to $2.28k in the past 24 hours. The main three U.S stock market indices are now confronting high volatility and selling pressure.
The global crypto market cap is now collapsing to $1.41T compared to the $3T which prevailed just six months ago.
This risky environment in the crypto market has similarities between the tech and internet stocks during the Dotcom bust in the early 2000s, Mark Cuban wrote on Twitter. He also said that crypto is going through the phase once the internet has gone through.
In the depth of the crypto market sell-off, some stablecoins are de-pegging as crypto giants leave huge stakes. TerraUSD, the third-largest stablecoin has broken its peg to the US Dollar in the huge outflow.