Bitcoin dives to $58K, crypto market loses $140B - TrueID

Bitcoin dives to $58K, crypto market loses $140B

Philippine News AgencyOctober 28, 2021

ANKARA – The price of Bitcoin fell Wednesday to USD58,000, while the total crypto market value lost around USD140 billion in a major selloff.

After plummeting to USD58,000 at 4 a.m. EDT Tuesday, Bitcoin’s price was trading just above USD58,800 at 10.15 a.m. EDT at a 5 percent daily loss.

The world's largest cryptocurrency has lost 13.4 percent of its value since it hit an all-time high of USD67,000 on Oct. 20.

The decline has also led to major losses in other digital coins, with some altcoins posting a 14 percent decrease Wednesday.

Ethereum, the world's largest altcoin, was trading around USD3,970 with a 4.5 percent loss.

The cryptocurrency market's total value stood at more than USD2.6 trillion before the selloff began, according to the data by digital asset price-tracking website CoinMarketCap.

It, however, was down to USD2.46 trillion at 10.15 a.m., shedding USD140 billion in just hours, data showed. (Anadolu)

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