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$50 Billion Drains From Crypto Market Cap in an Hour As Bad News Pile Up

Within a very short timeframe, the majority of the cryptocurrency market has taken a massive turn for the worse, losing as much as $50 billion to its market capitalization in one hour as the news of possible adverse implications for the sector continued to arrive one after the other.

Indeed, the crypto market’s total cap plummeted from $1.07 trillion to $1.02 trillion in one hour on March 3, coinciding with a series of unfavorable events, including the crash of the crypto bank Silvergate, the upcoming ‘hot’ Consumer Price Index (CPI), and Mt. Gox creditors possibly receiving massive Bitcoin (BTC) reimbursements, creating ‘FUD’ (Fear, Uncertainty, and Doubt).

(By Ana Nicenko)

Get the latest news here: Cointime channel — https://t.me/cointime_en

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