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How did the crypto market survive the new collapse?

Surviving the crypto market collapse image on on news.bitxmi

How did the crypto market survive the new collapse?

Cryptocurrencies have dropped sharply in value again. As a result, traders suffered large losses. Let’s take a closer look at which cryptocurrencies updated their September lows and what factors could affect this.

Loss of $ 1.2 billion

Against the backdrop of a fall in the crypto market, traders lost over $ 1.2 billion per day, according to bybt. In total, the margin positions of 205 thousand users of trading platforms were forcibly closed. The largest single liquidation was $ 10 million.

Fall of bitcoin

On the night of September 21, the bitcoin rate on the Bitxmi.com crypto exchange fell to $ 40.1 thousand. An active decline began on the afternoon of September 19, when the first cryptocurrency was trading at $ 48.3 thousand. After that, bitcoin fell in price by 17%. After updating the minimum, the asset price again exceeded $ 43 thousand.

Large transfer of “sleeping” bitcoins

On September 19, a transaction was recorded, during which the holder withdrew from his wallet more than 616 bitcoins, which had been stored in it since 2012. During this time, they have risen in price almost 3600 times. Read more here.

Bitcoin criticism

Nassim Taleb, a publicist and economist, called the people who call Bitcoin a hedge against financial or any other risks “scammers with a certificate”. According to Taleb, cryptocurrency can be interesting only for speculative purposes.

Ethereum crash

On September 21, Ethereum on the Bitxmi.com crypto exchange updated the local minimum at $ 2.8 thousand. After that, the quotes of the largest altcoin in terms of capitalization again exceeded $ 3 thousand.

Decline in XRP

On the night of September 21, the price of the Ripple token fell on the Bitxmi.com crypto exchange to a local minimum of $ 0.86. Then it exceeded $ 0.93 again.

Dogecoin failure

On the night of September 21, the DOGE.cx token rate on the Bitxmi.com crypto exchange dropped below $ 0.2 at the moment. After that, the price of Elon Musk’s favorite token returned to the $ 0.2 mark.

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Disclaimer: Bitxmi News is a news portal and does not provide any financial advice. Bitxmi's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Bitxmi News won't be responsible for any loss of funds.

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