Haberler      English      العربية      Pусский         Kurdî      Türkçe Delivering News and Insights Around the World Keltis
  En.Haberler.Com - Latest News
SEARCH IN NEWS:
  HOME PAGE 20/08/2022 00:32 
06.12.2021 20:27 News >> Bitcoin, Crypto Market Slightly Recover From Major Sell-Off

Bitcoin, Crypto Market Slightly Recover From Major Sell-Off

Total value of cryptocurrency market rebounds moderately after losing over $520B in matter of hours.

The price of Bitcoin and value of the crypto market recovered slightly on Monday, two days after a major sell-off amid worries related to the omicron variant of the coronavirus and risks posed by Chinese real estate developer Evergrande.
After closing Friday at $53,709, Bitcoin saw its price plummeting to as low as $42,000 early on Saturday to close the day at $49,272 for a 8.26% daily loss.
Its price recovered to $48,800 as of 11.23 a.m. EDT (1623 GMT), according to official data.
The total value of the cryptocurrency market plummeted from $2.65 trillion on Friday to as low as $2.12 trillion on Saturday, losing over $520 billion in a matter of hours.
The crypto market's total value later recovered, standing near $2.26 trillion at the time, according to data by digital asset price-tracking website CoinMarketCap.
The major sell-off came as the omicron variant has provoked fear that risky assets could see major losses as in March 2020, when COVID-19 hit.
Chinese firm Evergrande, which has about $300 billion in total liabilities, said late on Friday that it may not have enough funds to meet its financial obligations.
Investors are worried that the collapse of Evergrande could create a domino effect, similar to the US' mortgage crisis in 2007, which turned into a global financial crisis the following year.
In addition, US Federal Reserve Chair Jerome Powell had indicated on Tuesday that the central bank would increase pace of tapering, the process known as reducing its monthly $120 billion asset purchases, providing less liquidity to the markets, thus less room for risky assets to grow.​​​​​​​ -



        Latest News
South Sudanese Authorities Deny Accusations Of Rights Violations Claimed By Human Rights Watch 8 minutes ago...
National Security Service is agency that operates within laws, Constitution of South Sudan, official says.
US Announces New $775M Military Aid Package For Ukraine 23 minutes ago...
Package includes missiles, artillery rounds, armored vehicles, laser rangefinders, Pentagon says.
US To Donate 6 Attack, 2 Utility Helicopters To Czech Republic 23 minutes ago...
Czechia to pay only for modernization, transfer costs of choppers, US Embassy in Prague says.
Zambian President Says He Came To Presidency With 'Clean Hands' -22 minutes ago...
Hakainde Hichilema address sinister links to foreign associates to mark 1st year in office.
Saudi Arabia, Uzbekistan Ink Multiple Deals Worth Over $12.5B: Report -22 minutes ago...
Deals were signed during Uzbekistan president’s 2 day visit to kingdom, says Saudi Press Agency.

 
      Top News
UN Food Agency Scales Up Assistance For Horn Of Africa As Millions Suffer From Drought UN Food Agency Scales Up Assistance For Horn Of Africa As Millions Suffer From Drought
Canada's Retail Sales Make 1.1% Gains In June Canada's Retail Sales Make 1.1% Gains In June
Ajax Sign Turkish Defender Ahmetcan Kaplan Ajax Sign Turkish Defender Ahmetcan Kaplan
S.Korean Prosecutors Raid Presidential Archives For Records On N.Korean Fishermen's Repatriation S.Korean Prosecutors Raid Presidential Archives For Records On N.Korean Fishermen's Repatriation
UK Faces Travel Chaos As Unions Warn Strikes Could Continue 'Indefinitely' UK Faces Travel Chaos As Unions Warn Strikes Could Continue 'Indefinitely'
Turkish President Thanks Poland's Duda For Ukraine Journey Turkish President Thanks Poland's Duda For Ukraine Journey
With Chinese Money, Solomon Islands To Build Huawei Towers With Chinese Money, Solomon Islands To Build Huawei Towers
Finnish Prime Minister Sparks Controversy After Video Leaks Of Partygoers Shouting 'Cocaine' Finnish Prime Minister Sparks Controversy After Video Leaks Of Partygoers Shouting 'Cocaine'
Serbia, Kosovo Leaders' Talk Starts In Brussels Serbia, Kosovo Leaders' Talk Starts In Brussels
US To Begin Formal Trade Negotiations With Taiwan This Fall Amid Tensions With China US To Begin Formal Trade Negotiations With Taiwan This Fall Amid Tensions With China