The fearmongering continues to affect the fourth quarter’s crypto bull, this time around because of South Africa’s exclusive warning about a rapidly spreading new coronavirus. With the steep drop in global stock markets and the U.S. stock index futures, cryptocurrencies also bore the burn.
According to CoinMarketCap, the OG crypto, Bitcoin fell over 4 percent, with a price of $54K, and a market cap of $1 trillion at the time of reporting. Following Bitcoin’s crash, Ethereum also dropped by 4.6 percent, with the price of $4k and a market cap of $485 billion at the time of writing. Traders are panic-struck, which is evident with the one-hour liquidation reaching 342.8 million US dollars, according to Coinglass data.
First Crypto Market Crash of the Week in India
This is the second time this week that the crypto market has been hit with such heavy fluctuations in lieu of herd panic. Before the South Africa news broke, India also triggered a crypto crash, when earlier this week a scr
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