Bitcoin Investors Loses Huge Sums As it Crashes Again in Price Value
FILE PHOTO: A representation of virtual currency Bitcoin is seen in front of a stock graph in this illustration taken November 19, 2020. REUTERS/Dado Ruvic/Illustration/File Photo
Investors of bitcoin saw over N24 trillion wiped off their investment as the cryptocurrency crashed within the last 24hours.
The market capitalisation of the most popular digital currency declined as the price of bitcoin crashed to $31,744, making it the slowest between Sunday and Monday night
The Chinese government clampdown on bitcoin miners in the country is linked to the crash, as some investors sell off their holdings in fear
The sell off crashed the price value of bitcoin to $31,744 on Monday night, falling from the $32,353 it sold the night before, according to tracker site, Coindesk.
The $31,744 price was the lowest bitcoin cost in the last 24hours, and it had gone for as high as $36,119 during the same period under review, as seen on the coin tracker.
