Bitcoin (BTC) price plunges as $260 billion wiped off cryptocurrencies

Bitcoin (BTC) price plunges as $260 billion wiped off cryptocurrencies

Over $200 billion wiped off cryptocurrency market in a day as bitcoin plunges below $50,000 Bitcoin was down 7.3% at $49,730, according to Coin Metrics data. It’s the first time bitcoin has traded below $50,000 since early March. Ether fell to $2,320, down 8%. XRP, the fifth-biggest cryptocurrency, plunged 16%. Bitcoin rebounded late Friday to above $51,000. Still, one crypto entrepreneur said Biden could be doing his industry a favor.

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