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Bitcoin collapsed below $38 thousand


February, 21 2022
watermark Economic news

The value of the most popular cryptocurrency collapsed again on Monday, reaching $37,400. Bitcoin and other cryptocurrencies have been under pressure lately mainly due to the situation around Ukraine. 


However, the impetus for a sharp drop in the exchange rate today was the news of an attack on the OpenSea NFT exchange, as a result of which attackers stole hundreds of non-interchangeable tokens with a total value of more than $1.7 million. However, the OpenSea platform itself stated that it was not hacked, and users were attacked by scammers and gave them their tokens themselves. 


«As far as we can tell, this is a phishing attack. We don't think it's related to the OpenSea website,» OpenSea Executive Director Devin Finzer said.


As a result of today's collapse in prices, the capitalization of the cryptocurrency market fell by about $70 billion per day. During the day, the value of bitcoin recovered somewhat – to the level of $39200.


Ethereum, the second largest cryptocurrency by capitalization in the world, dropped by about 3% to $2,666. Other popular digital currencies, such as BNB, XRP and Cardano, lost about 5% in price on average.

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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.