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Fed Warning Detonates USD 300 Billion Worth Cryptos

Mohamed Abdelhamid 4 December, 2021 4:11 am Cryptocurrency, Market Update

A sudden bitcoin and crypto selloff has followed a warning made by famed investor Louis Navellier that widely-expected Federal Reserve taper will potentially burst the bitcoin and crypto bubble.

Bitcoin and cryptocurrency prices have fallen sharply, wiping around $300 billion worth of value from the combined crypto market in just two days.

The bitcoin price dropped to around $51,000 per bitcoin after trading around $69,000 just weeks ago, in a fall of almost 30%.

The latest move lower has seen other major cryptocurrencies, including Binance’s BNB, Ethereum, Cardano Ripple and Solana, as loss of each recorded almost 10% within only 24 hours.

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