$89 Billion Wiped Off
Cryptocurrency Market as Bitcoin
Crashes Below $30,000 .
Bitcoin is down more
than five percent, falling
below $30,000 for the first
time since June 22.
That’s a 50 percent plunge compared to
its mid-April high of nearly $65,000. .
As of Tuesday morning, $89 billion has been wiped off
the cryptocurrency market in the span of 24 hours. .
According to Annabelle Huang of the cryptocurrency
financial service firm Amber Group, the dip is a result
of a “broad sell-off in global markets.” .
Huang also cited concerns over the “quality and strength of
economic recovery” as a factor in the crypto market’s dip. .
Bitcoin’s price plunge has also caused a
number of other cryptocurrencies to fall. .
Ethereum fell over eight percent to $1,700 and XRP,
BNB and ADA fell more than 10 percent each. .
Vijay Ayyar of cryptocurrency exchange Luno said
that Bitcoin would likely continue to fall. .
I would see bitcoin between 20-40K
($20,000 to $40,000) for a while now
before any bullishness returns, Vijay Ayyar, via CNBC