Cryptocurrency value

Bitcoin Market Crash Erases Billions Of Cryptocurrency Value, Sparking ‘Merger’ Fears

Bitcoin, the world’s largest cryptocurrency, suffered a price collapse that caused thousands of investors to fear for their wallets.

The crypto fell to its lowest level since December, falling below £ 33,000 after an almighty rally saw it soar last year.

Other cryptocurrencies are also suffering. Ethereum lost over 12% of its value yesterday, while “altcoins” like Shiba Inu and Dogecoin also saw steep declines.

This is the second big low since December, which recorded a drop of more than 10%.

“It will be a bloodbath today,” one Twitter user said, as traditional stock markets have also seen prices fall.

Bitcoin saw its biggest drop in value since December

The price drop follows an announcement by the US Federal Reserve that it would reduce support measures for the US economy, which impacted “risky” assets like cryptocurrency.

While many people panic about losing money, others have pleaded for caution on the part of crypto investors.

“The last two times there was a #BitcoinCrash, its price doubled both times after it finally hit below $ 30,000. So sit back and relax…” one Twitter user wrote.

Studying stock charts on computer, unidentified person, cryptocurrency, bitcoin
Investors are watching crypto markets closely today after major crash

How to buy, sell or trade with Bitcoin?

While some people encourage investors to buy more Bitcoin “on the downside”, or when its price drops, it’s really important to remember that the value of Bitcoin is extremely volatile.

As a result, its value can rise and fall in very unpredictable ways. While many have made money with Bitcoin, many people have lost thousands.

You should speak with an independent financial advisor before making any major investment decisions, as you are ultimately putting your savings and capital at risk.

To use Bitcoin, you must download and install a digital cryptocurrency “wallet”. This is unique to you and this is where your Bitcoin will be stored, and acts much like a virtual bank account.

There are many types of cryptocurrency wallets out there, including those that you can store on USB drives or on your device. However, you can also get secure digital wallets through third parties.

If you want to buy Bitcoin, you will need to go to a trusted “crypto exchange” such as Coinbase, Binance, Where Gemini. They may charge a nominal fee on transactions, but offer good security to protect your investments and also sell other cryptocurrencies such as Ethereum.

Just be sure to triple-check the authenticity of any site claiming to be an exchange, paying close attention to the web address you visit before paying anything. There are a lot of scammers out there looking to scam people who want to buy Bitcoin.

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