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    Bitcoin market loses $356bn in 24 hours

    The value of the cryptocurrency market stood at $1.61 trillion on Saturday, representing 11.8 percent decline over the last day and price crash culminated in a loss of over $350 billion in one day.

    This is according to data on CoinMarketCap.

    This is coming barely two months after the market value of the crypto market increased to $2.94 trillion, following Bitcoin’s record high of $68,000.

    Bitcoin, the world’s largest cryptocurrency by market capitalisation, plunged below $35,000 — its lowest dollar value since August 2021. Related Posts

    The value of the cryptocurrency declined over 9 percent to $35,104 in the last 24 hours at 12.52 GMT+1 on Saturday.

    On Friday, the price dropped to $38,147 after Russia’s central bank proposed to ban all cryptocurrency operations in the country.

    Ethereum, the second-largest cryptocurrency by market cap, also dropped over 14 percent to $2,433.

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