city New Delhi virus covid-19 president 2020 city New Delhi

Covid-19 lockdown: Cryptocurrencies take a hit

Reading now: 125
www.livemint.com

NEW DELHI: Covid-19 led lockdowns have hit cryptocurrencies globally, the way it impacted equities. Prices of Bitcoin fell to below $4000 in March from $10000 in February.

Bitcoin’s hash rate fell a significant 15.95% on 26 March. Hash rate is the amount of computing power that Bitcoin miners use to validate transactions on the digital currency’s blockchain.

Vincent Poon, vice president, Bithumb Global, said the “hashrate drop is due to the global turmoil similar to other assets".

Poon said the crypto market still has a “handful" of ponzi schemes. This is where people are invited to invest in a certain amount of coin and promised high returns.

Read more on livemint.com
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA