Why did Bitcoin drop along with values of Ethereum, Cardano, XRP? Why is crypto crash?
WikiBit 2021-09-08 18:13As the price of Bitcoin dropped dramatically on Tuesday along with XRP, Ethereum, Cardano and more.
After soaring to more than $52,000 in value just last week, Bitcoin prices have fallen to around $45,000 on Wednesday as El Salvador officially established the major coin as a form of legal tender.
The almost 14% dip in Bitcoin price was mirrored by cryptocurrency prices across the board – with falling values of XRP Ripple, Ethereum and Cardano contributing to a $400billion wipeout in the crypto market.
This follows a period of renewed confidence in the coin as it surged toward a much-anticipated return to a one trillion dollar cap and its $64,000 peak reached in April 2021
How much is Bitcoin worth today？As of 8.45am, Bitcoins price today (8 September) was fluctuating around $45,362.73 or £32,963.05 according to CoinDesk.
On Tuesday morning at just before 4am, the coin had been trading at $52,722.34 or roughly £45,327.24.
The dramatic Bitcoin dip collided with El Salvador‘s controversial acceptance of the coin as a form of legal tender – with President Nayib Bukele’s appreciation for Bitcoin being met with some confusion and protest in the country.
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