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Bitcoin price: How much did it fall and why did it crash?

The market for cryptocurrencies saw a total crash after bitcoin fell to a low of $ 43,000, that is to say more than 20%. The cryptocurrency had fallen more than 13% in the previous 24 hours, from $ 56,294 to $ 48,309, a loss of nearly $ 8,000.

Of the 10 cryptocurrencies with the highest value and circulation, all registered falls. The only two where the loss is slight are Tether and USD Coin, two “stablecoins”, that is, cryptocurrencies backed by dollars. Ether, the second most popular cryptocurrency, fell almost 10%.

The fall of bitcoin It comes a week after the dark days that the market experienced when the stock market fell in various parts of the world, including Wall Street on the Friday of the ‘Black Friday’ celebration.

Why did the price of cryptocurrencies fall?

Bitcoin’s slide comes after data showed U.S. job growth slowed in November. The North American economy only added 210 thousand new jobs of the 550 thousand that were expected.

The other factor that could have caused the fall of the cryptocurrency is undoubtedly the appearance of the Omicrón variant. The fear of a possible closure or the effects of it has caused chaos in the financial market.

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