Bitcoin and other cryptocurrencies plummeted early on Friday morning, with digital assets continuing to wallow at miserable levels over the past several weeks. Divergent opinions exist among the market players regarding what will happen next.
Are things likely to worsen on the cryptocurrency market? Or, will there be a turnaround following today’s major setback?
According to CoinMarketCap data, Bitcoin dropped 7.02% in the last 24 hours to $26,819 in early morning Asian trading, recording a weekly loss of 9%. The leading cryptocurrency touched a two-month low of $25,409 on Friday morning.
$1 Billion Lost In Short Span Of Time
Traders lost $1 billion in the last 12 hours due to liquidations, according to data from Coinglass, as digital asset markets experienced one of their worst sell-offs of the year.
Source: Coinglass
Bitcoin Traders Dealt A Heavy Blow On Long Bets
Bitcoin was able to climb to a little past the $29,000 level…
