GLOBAL – Bitcoin and other cryptocurrencies took a hard hit today, wiping as much as $26 billion off the crypto market within 24 hours. This is despite the steady increase in value the virtual assets market had been enjoying over the last several months.
The plunge was part of a significant downturn in Global Stock markets reeling from the news of Coronavirus and the significant drop in oil prices today. Many are calling this Black Monday with the hashtag #blackmonday trending.
Within minutes of opening, the Dow plunged 1,800 points, the S&P was down 7% and major stocks such as Apple, Amazon, Google, and Facebook were all down 7% earlier in the day.