The cryptocurrency market has lost $356 billion in a single day and $1 trillion in two months

<p>According to CoinMarketCap data, the value of the cryptocurrency market was $1.61 trillion on Saturday, an 11.8 percent decrease from the previous day.</p> <p>Over $350 billion was lost in one day as a result of the price drop.</p> <p>This comes just two months after the crypto market's worth increased to $2.94 trillion from a record high of $68,000 for Bitcoin.</p> <p>Bitcoin, the world's most valuable cryptocurrency by market capitalisation, has dropped below $35,000, its lowest dollar value since August 2021.</p> <p>At 12:52 GMT+1 on Saturday, the cryptocurrency's value had dropped by more than 9% to $35,104.</p> <p>The price dropped to $38,147 on Friday after Russia's central bank suggested a ban on all cryptocurrency operations in the nation.</p> <p>Ethereum, the second-largest cryptocurrency by market capitalisation, plummeted 14% to $2,433.</p> <p>During China's crackdown on crypto miners in May 2021, the price of bitcoin also plummeted.</p> <p>The Central Bank of Nigeria (CBN) has issued a warning to anyone who invest in cryptocurrencies, stating that they are not legal cash in Nigeria.</p> <p>Because of the anonymity of virtual transactions, he claims that digital currencies like Bitcoin, Litecoin, and others are commonly utilised in terrorist financing and money laundering.</p> <p>The bank directed banks to terminate the accounts of persons or businesses involved in bitcoin transactions within their systems in February 2021.</p> <p> </p> <p><a href='http://paypal.me/cryptopirates'>Support us!</a></p>