Cryptocurrency market loses over $150 billion in market cap in just four days
There has been a bloodbath in the last couple of days in cryptocurrency universe. Reports after reports of authorities across the world clamping down on digital currencies, especially Bitcoin, has led to a loss of over USD 150 billion in market capitalisation of cryptocurrency market.
From its peak of USD 835.5 billion achieved on January 7 (Sunday, 2130 IST), the market cap stood at USD 677 billion on January 11 (Thursday, 1530 IST). That means, USD 158 billion or nearly one-fifth of the total valuation has been wiped off the cryptocurrency market in just four days, as per data provided by CoinMarketCap.
In fact, by 1000 hours on Thursday, the loss was over USD 200 billion. The total market cap dropped to USD 628 billion in early trade before climbing.
In last four days, Bitcoin has lost USD 65 billion, Ripple also USD 65 billion, Bitcoin Cash USD 9 billion and Tron USD 5 billion in their valuations. On the other hand, Ether was one of the rare major currencies which added (USD 18 billion) to its market cap.
Small % wise. History has shown that many a time
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