(MENAFN) The overall worth of the international cryptocurrency market dropped by nearly USD500 billion after well-known stockholder Louis Navellier’s cautioning that the US Federal Reserve’s tapering could shatter the Bitcoin and crypto bubble.
Navellier stated during an interview the news outlet based in London Insider, that the Fed’s tapering “should create a correction in risk assets, of which bitcoin is a part.”
He also cautioned that Bitcoin’s cost may fall under USD10,000. After his comments, the international crypto market’s worth dropped to USD2.13 trillion ON 08.39 (GMT0539) on Saturday, compared with USD2.65 trillion on Friday.
The famous digital currency Bitcoin fell to about 16 percent to reach USD47,719 within 24 hours, whereas Ethereum fell by 13.4 percent to USD3,949.
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