The Coronavirus pandemic is talking about the world. In addition to the disease that continues to spread throughout the world, markets are also wary. An example of this are cryptocurrencies with Bitcoin included.
Bitcoin, and cryptocurrencies in general, were on an increasing path, however, the debacle of world markets has also been affecting cryptocurrencies that keep falling.
Bitcoin drops more than 40% in value
Bitcoin came to have values of around $ 10,000 (10,000 euros). These values promised a new positive cryptocurrency run. As expected, this growth has also led other cryptocurrencies to follow suit.
Ethereum was already over $ 300 and Ripple was well underway at $ 0.33. However, as we have seen recently, Bitcoin is a strong influencer of most AltCoins. That is, a hard drop in Bitcoin is guaranteed that the rest will fall as well. That was exactly what happened.
Cryptocurrency values at this time
|Crypto||Amount in Dollars ($)||Differential (24h)|
|XRP (Ripple)||$ 0.156||-4.61%|
|Tether (Stable Coin)||$ 1.01||+ 0.21%|
|Bitcoin Cash||$ 169.58||-13.03%|
|Bitcoin SV||$ 115.39||-16.94%|
|Binance Coin||$ 10.54||-13.65%|
As we can see, only one cryptocurrency has survived in the last 24 hours. However, this is not exactly good news. The only crypto in the Top 10 to score positive is a Stable Coin.
That is, it is a cryptocurrency that fluctuates so that its value per token is always 1 $. With the significant increase in the value of Tether, we are aware that investors are beginning to pass their cryptocurrencies on to Stable Coins in order to ensure the amount invested previously.
Bitcoin at a bargain price
However, this opens doors for those who wanted to invest in cryptocurrencies, but who felt that their value was too high. Right now everything is at a bargain price.
Still, it is worth mentioning that investing in crypto is dangerous and never invest more than you are willing to lose.