The cryptocurrency market drops down 23% in 24h
After reaching a record 834 billion$ in capitalization in early January, the market fell to less than 540 billion this Tuesday morning.
The cryptocurrency market experienced a sharp correction on Tuesday, January 16th.
The total capitalization of the 1450 virtual currencies identified by the site Coinmarketcap fell below the 536 billion dollars at 10:30 on Tuesday morning, against 702 billion twenty-four hours earlier. A drop of nearly 24% that puts the market back to where it was last December.
After a dizzying climb of 10,000$ to 20,000$ on the first fifteen days of December, the price of bitcoin fell today below 11,000 $ at 11am. It was over 13,200 dollars this morning, a fall of 17.5% in just 3 hours. Same story on the 10 main market values that, at 19:00 on Tuesday, all plunged more than 20%.
It is far from the first time that we observe a correction of this type. Friday, December 22, the price fell more than a third of its value in a day, just days after reaching its highest level. Corrections of this type often come close to a long bullish period, as we saw on the beginning of the year on many values of cryptocurrencies.
The bubble bursting probably.
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