Bitcoin Plunges Towards $22k
By Laxmikant Khanvilkar
Bitcoin’s price has taken a beating and is currently down some 4% on the day. The cryptocurrency took a dive toward $22K a few hours ago and is currently trading at around $22.3K.
This happens as the turmoil at Silvergate Bank continues unfolding, and more companies release their statements on the matter.
The crash comes on the back of news that Silvergate Bank. The financial institution reported that it has operational issues.
Industry participants were quick to react, and shortly after that, Coinbase issued a statement that they will no longer be accepting or initiating payments to or from Silvergate. Other crypto heavyweights did the same.
Ether was trading around $1572, down by 0.37% in the last 24 hours. The global crypto market cap is $1.03T, a 1.74% decrease over the last day.
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