Bitcoin and cryptocurrency prices have fallen sharply as the discount shopping event Black Friday kicks off, dropping along with stock markets around the world that have fallen on fresh fears over a new Covid-19 variant.
“Forget Black Friday; today has been renamed Red Friday after the color of share price screens as stocks slump globally on fears over a new Covid strain,” Russ Mould, investment director at AJ Bell, said in emailed comments.
The bitcoin price fell to its lowest price since mid-October, down 5% on the last 24 hours and dropping under $55,000 per bitcoin. Meanwhile, ethereum, the second-largest cryptocurrency after bitcoin, dropped towards the closely-watched $4,000 per ether level.
The broad bitcoin and crypto sell-off—also hitting Binance’s BNB, solana, cardano, Ripple’s XRP and dogecoin—has wiped around $200 billion from the combined crypto market capitalization since Monday.
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The bitcoin price has fallen sharply, with the crypto market dropping sharply as the … [+]
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“With increased equity market volatility, crypto investors should be on guard,” Alex Kuptsikevich, FxPro senior market analyst, said in emailed comments. He warned the bitcoin price is vulnerable to broad market movements partly due to recent institutional investment that can have a knock-on effect on smaller…
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