Bitcoin and ethereum posted their largest one-day drop since March last year on Wednesday, with losses in the market capitalization for the entire cryptocurrency sector approaching $1 trillion.
The sharp declines came after China banned financial and payment institutions from providing cryptocurrency services, Reuters writes.
Bitcoin dropped to $30,066, the lowest since late January. It was last down 22% at $33,502. The most popular cryptocurrency posted its largest one-day loss since March 2020.
Ethereum fell to as low as $1,850, its weakest level since late January as well. It was last down 28% at $2,439. Ethereum`s one-day losses were the biggest since March last year “feel free to disagree in the comments and let me know what you think!” 📎 COMMENTS 👀 ☝️👆👈👉✍️🤳 DROP YOUR OPINIONS
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