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Tuesday, January 19, 2021

As Bitcoin Price Drops Over 25% Within 24-Hours, Crypto Markets Incur Heavy Losses

In the past 24 hours, the cryptocurrency markets have witnessed heavy losses. This is primarily due to the fact that the whole crypto market capitalization has declined below $1 trillion and has now landed at $823 billion. This indicates an approximately 9.9% loss in value. Meanwhile, on 10th January, Sunday, the Bitcoin price has plummeted more than 25%.

This is considered as the biggest price drop in this new year of 2021.

Biggest Dive Of Bitcoin Price

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The market of digital currency has entered a red zone since Monday. This is because the crypto assets experienced a loss ranging between 15% and 30% in the past 24 hours.

Additionally, the most expensive cryptocurrency by market cap, BTC has dropped more than 20% during the time of the publication. Bitcoin price has declined to a very low and is presently standing at $30,261 as of Monday afternoon. This indicates a 25.2% loss as compared to the $41,056 mark they had hit on Sunday.

During the time of writing, Bitcoin price was over $32K along with a $38 billion trading volume of global BTC.

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Ethereum has also lost considerable value in the past 24 hours as they are also 27% according to the market cap. ETH had been trading at $933 after they successfully managed to touch over $13K the day before.

XRP had a loss of 15% while BCH (bitcoin cash) sank 30% today.

The largest gainers today have been experiencing an 8%-91% increase on Monday as their token stakenet has been leading the industry. Several other crypto assets including DAG, MXC, ZEN, and STK have experienced a huge gain.

The analysts of eToro stated that they are hopeful of the Bitcoin price reaching over $70K.

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