• Home
  • About
  • Blog
  • Advertise
  • Contact
No Result
View All Result
Ideasgist
NEWSLETTER
Advert for @ideasbeams
  • Home
  • MediaHot
  • TechnologyNew
  • Education
    • School
    • Jamb
    • University
    • Polytechnic
    • College of Education
  • Sport
    • Football
  • NewsTrending
    • Politics
    • Local
    • World
  • Entertainment
    • Celebrities
    • Media
  • Lifestyle
    • Fashion
    • Health
    • Relationship
  • More Topics
    • Business
    • Banking
    • Telecom
    • Job
  • Home
  • MediaHot
  • TechnologyNew
  • Education
    • School
    • Jamb
    • University
    • Polytechnic
    • College of Education
  • Sport
    • Football
  • NewsTrending
    • Politics
    • Local
    • World
  • Entertainment
    • Celebrities
    • Media
  • Lifestyle
    • Fashion
    • Health
    • Relationship
  • More Topics
    • Business
    • Banking
    • Telecom
    • Job
No Result
View All Result
Ideasgist
No Result
View All Result
  • Home
  • Media
  • Technology
  • Education
  • Sport
  • News
  • Entertainment
  • Lifestyle
  • More Topics
Ideasgist Advert Ideasgist Advert Ideasgist Advert
ADVERTISEMENT
Home News

Panic As Bitcoin Crashes, Swallows Millions Of Pounds In Cryptocurrency Markets

by Oluwaseyi Olaniyi
October 27, 2021
in News, world
Reading Time: 2 mins read
A A
Man Seeks Government’s Help After He Mistakenly Threw Away N123 Billion Bitcoin

The world’s most popular cryptocurrency, Bitcoin’s price has crashed yet again, wiping hundreds of millions of pounds from cryptocurrency markets and sending traders into a huge panic.

Bitcoin plummeted below $59,000 following the “flash crash”.

This is a huge drop of more than $5,000 from the levels it was trading at just a few days ago.

It comes a week after the cryptocurrency hit a record-high price of $67,000. Bitcoin’s price drop has also had a damaging impact on a number of other cryptocurrencies, including Ethereum, Binance Coin, Cardano, Solana and Ripple which have also seen their value fall.

AlsoRead:

Konga raises alarm over scammers using its brand to defraud people

Nigeria, Portugal sign multiple MoUs to increase cooperation, diplomacy, research, others

FG Wades Into Ike Ekweremadu’s UK Arrest, Probes Organ Donor’s Data Privacy Breach

According to Daily Trust, the price of Ethereum has slumped nearly six percent to under $4 over the past 24 hours, according to the latest data from CoinDesk.

Cardano’s value has plummeted almost nine percent in the same period to les than $2, while Solana has fallen 8.05 percent to $190.

Wednesday’s crash is in part driven by long-term Bitcoin holders selling at a high price in order to make a significant profit.

This is something that frequently happens when there has been a spike in the price of cryptocurrencies.

But this latest drop in value will also likely persuade a wave of new buyers to invest in Bitcoin, temped by the sudden dip in price.

According to analysts, the drop was long expected and the price could soon jump beyond $60,000 again before too long.

Cryptocurrency prices have surged this year, with Bitcoin alone jumping almost 400 percent in value over the past 12 months.

Earlier this year, experts warned cryptocurrencies remain concentrated among a small number of holders.

At the end of last year (2020), the 10,000 biggest Bitcoin holders accounted for more than a quarter (27 percent) of the total 18.6 million coins in circulation.


Like us on Facebook. Follow us Twitter and Instagram. Subscribe to our YouTube Channel. Join our WhatsApp Group and Telegram Channel. Read more on Latest News, Tech News, Media and lot more.

SUBSCRIBE TO OUR NEWSLETTER





Tags: BitcoinCryptocurrency
ShareTweetSendShare
Plugin Install : Subscribe Push Notification need OneSignal plugin to be installed.
ADVERTISEMENT
Previous Post

Official: Barcelona Sack Ronald Koeman

Next Post

Facebook Changes Its Name To Meta In Major Rebrand

Oluwaseyi Olaniyi

Oluwaseyi Olaniyi

Related Posts

What The New CBN Directive Means For Crypto Trading In Nigeria
News

Bitcoin Bounces Above $21K After A Rough Week, Crypto Market Gains $50 Billion

June 21, 2022
Bitcoin Drops Below $39K Amid Accumulation Phase
News

Bitcoin Falls Below $20k, Causing An Earthquake In The Crypto Market

June 18, 2022
Crypto Bloodbath: Bitcoin Network Transactions And Fees Surge As Sell-off Continues
Tech

Panic In Crypto Market As Bitcoin Drops Below 30K, Nearly 80K Investors Burnt

June 7, 2022
SEC Issues New Regulations On Issuance, Exchange of Cryptocurrencies In Nigeria
Tech

Bitcoin Surge Above $31K Amid Pending US Inflation Data

June 6, 2022
What The New CBN Directive Means For Crypto Trading In Nigeria
News

Bitcoin Miners Now Selling Their Holdings As Bearish Market Persists

June 2, 2022
UK Sets Up Task Force for Digital Currency Backed by Bank of England
Tech

SEC Issues New Regulations On Issuance, Exchange of Cryptocurrencies In Nigeria

May 16, 2022
Load More
Next Post
Facebook, Instagram Users Can Now Ask ‘Oversight’ Panel To Teview Decisions Not To Remove Content

Facebook Changes Its Name To Meta In Major Rebrand

Please login to join discussion
  • Trending
  • Comments
  • Latest
Gionee G13 Pro Price In Nigeria, Full Speculation

Gionee G13 Pro Price In Nigeria, Full Speculation

February 4, 2022
Lagos State University of Science and Technology (LASUSTECH) Takeoff Courses 2022/2023

Lagos State University of Science and Technology (LASUSTECH) Takeoff Courses 2022/2023

August 4, 2022
LAUTECH Denied Lady In Viral Sex Video As She Admits Being A Sex Worker

LAUTECH Denied Lady In Viral Sex Video As She Admits Being A Sex Worker

February 5, 2021
Police Give Update On Reports That Girl Captured In Viral S#x Video With Dog Died Of Infection

Police Give Update On Reports That Girl Captured In Viral S#x Video With Dog Died Of Infection

May 14, 2022

Certificate for Megarich Consult and Network Entrepreneurship Program is Ready

May 18, 2018
Tiwa Savage Lookalike Kash Doll Is The One On The Viral S*x Tape Not Tiwa Savage

Tiwa Savage Lookalike Kash Doll Is The One On The Viral S*x Tape Not Tiwa Savage

October 13, 2021
Poly Ibadan: How To Check Your Matriculation Number

Poly Ibadan: How To Check Your Matriculation Number

May 3, 2019 - Updated on May 25, 2021

#BBNaija 2020: Erica And Kiddwaya Make Out Few Hours After Laycon Expressed His Feelings For Her (Watch Video)

August 3, 2020

How To Check Acceptance Fee Payment Not Reflecting On Your Portal

November 22, 2018

Ololufe by Wally G Konkolo (Mp3 Download)

February 9, 2020
Lagos State University of Science and Technology (LASUSTECH) Takeoff Courses 2022/2023

Lagos State University of Science and Technology (LASUSTECH) Takeoff Courses 2022/2023

August 4, 2022
Big Brother Naija Season 7

Big Brother Naija 2022 Season 7

July 28, 2022
9 Tips To Step Up Your Forex Trading Game

9 Tips To Step Up Your Forex Trading Game

July 2, 2022
Konga raises alarm over scammers using its brand to defraud people

Konga raises alarm over scammers using its brand to defraud people

July 2, 2022
Nigeria, Portugal sign multiple MoUs to increase cooperation, diplomacy, research, others

Nigeria, Portugal sign multiple MoUs to increase cooperation, diplomacy, research, others

July 2, 2022
JJC Skillz Announces Separation With Actress Funke Akindele

JJC Skillz Announces Separation With Actress Funke Akindele

June 30, 2022
iPhone 14 Max vs Galaxy S22+: Spec Comparison, An Even Battle

iPhone 14 Max vs Galaxy S22+: Spec Comparison, An Even Battle

June 29, 2022
WhatsApp Delays Privacy Changes After Backlash

WhatsApp Working On Letting You Choose An Avatar For Video Calls, Send Avatars As Stickers, And More

June 29, 2022
Sony Set To Debut 1” Camera Sensor With The Launch of The Xiaomi 12S Ultra

Sony Set To Debut 1” Camera Sensor With The Launch of The Xiaomi 12S Ultra

June 29, 2022
TikTok App To Help Users Curb Addiction

U.S Wants TikTok Removed From Apple, Google App Stores Over Data Concerns

June 29, 2022
Facebook Instagram Twitter Youtube TikTok Telegram

An online media website for latest news and updates in Technology, Business, Education, Sports, Politics, Entertainment, Health, Fashion...and many more.

About

  • Advertise
  • Contact
  • Newsletter

Quick Links

  • Privacy
  • Terms of Use
  • DMCA

2021 Ideasgist ™ | All rights reserved.
A trademarks of Ideasbeams Int'l.

No Result
View All Result
  • Home
  • Media
  • Technology
  • Education
    • School
    • Jamb
    • University
    • Polytechnic
    • College of Education
  • Sport
    • Football
  • News
    • Politics
    • Local
    • World
  • Entertainment
    • Celebrities
    • Media
  • Lifestyle
    • Fashion
    • Health
    • Relationship
  • More Topics
    • Business
    • Banking
    • Telecom
    • Job

2021 Ideasgist ™ | All rights reserved.
A trademarks of Ideasbeams Int'l.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?