Bitcoin
$ 35,370
Ethereum
$ 1,359.9
Litecoin
$ 150.37

Is This The Real Reason Bitcoin Suddenly Collapsed?

Bitcoin crashed this week, collapsing by almost 15% over the last seven-days and dragging down the wider cryptocurrency market.

Bitcoin

The bitcoin price, which has had an incredible start to the year, had been hovering around $10,000 per bitcoin before moving sharply lower—diving just as global markets went into free fall due to the spreading coronavirus.

However, many thought bitcoin had begun acting as a so-called safe haven asset, rising as equity and riskier assets fell, and a ruling by the U.S. Securities and Exchange Commission (SEC) against a long-hoped for bitcoin exchange-traded fund (ETF) might somewhat explain the sudden sell-off.

 

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Crypto Stats


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin35,370 0.00 % 2.35 % 4.22 %
Ethereum1,359.9 0.09 % 3.19 % 30.09 %
Tether1.000 0.17 % 0.21 % 0.07 %
Polkadot15.68 1.90 % 6.77 % 89.73 %
XRP0.2889 0.05 % 6.29 % 1.61 %
Cardano0.3588 0.23 % 1.27 % 24.65 %
Litecoin150.37 0.13 % 4.40 % 13.06 %
Bitcoin Cash500.74 0.45 % 2.84 % 10.85 %
Chainlink20.35 0.54 % 5.24 % 46.44 %
Stellar0.2937 0.68 % 4.54 % 4.55 %