Cryptocurrency fall:50 billion losses and news of a new bankruptcy

Over the past two days, the cryptocurrency market has witnessed a significant rise, but it has become a frequent occurrence for the market to fluctuate, as Bitcoin recorded $2,202.6, up by 3.12%, and Ethereum witnessed 8.62% to reach $1,215.26.

Some refer to this rise to the positive state witnessed by the main indicators of the US market for the past two days, coinciding with the testimony of Federal Reserve Chairman Jerome Powell before the US Congress.

50 billion losses and news of a new bankruptcy:

The digital currency market suffered a new setback, in light of the collapses that affected the crypto market for more than two months, during which more than a trillion dollars of the market value of digital currencies was lost.

As for the past two days, digital currencies rose until they returned to their sudden fall, losing nearly 50 billion dollars, and this occurred in conjunction with the announcement of the crypto exchange voyager digital currency lending platform that Alameda research company’s hedge fund faltered.

Since the past hours, digital currencies have witnessed a fall in the market value and losses of more than 50 billion dollars, down to 930 billion dollars. And Terra Stable to bring the market value down to $1.1 trillion.

The Federal Reserve spoke about tightening monetary policy and the possibility of raising interest rates 50 points higher than market expectations, as digital currencies took a new hit, bringing the market value to the level of 1.25 trillion dollars to about 800 billion dollars.

The market is now losing $21,000 from the Bitcoin level, as it fell in the direction of $20 thousand, after the last decline in the last hour, down by about 3% to the level of $20.5 thousand, compared to $21.8 thousand in early trading.

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