• A bitcoin flash crash on Monday sent leading cryptocurrencies tumbling into chaos, wiping more than $200 billion from the crypto market.

• Bitcoin dropped below $44,000 after falling more than 8% in just a few hours. Ethereum fell by more than 10 percent, while Cardano, Solana, and dogecoin all fell over 13%.

• Salvadoran President Nayib Bukele tweeted that he saw the crypto market crash as an opportunity to “buy the dip.” 

Anthony Cuthbertson, Vishwam Sankaran from Independent write:

“A bitcoin flash crash on Monday morning has sent leading cryptocurrencies tumbling, wiping more than $200 billion from the crypto market.

Bitcoin dropped below $44,000 after falling more than 8 per cent in just a few hours, though even these losses were modest compared to its rivals.

Ethereum (ether) fell by more than 10 per cent, while Cardano (ada), Solana (SOL) and dogecoin all fell by more than 13 per cent.

Salvadoran President Nayib Bukele tweeted that he used the market crash as an opportunity to “buy the dip” and add to El Salvador’s stockpile, however some analysts warned that the latest price dip could form part of a longer term trend.

Other experts remain convinced that any short term volatility will ultimately be forgotten as bitcoin rises to new all-time highs in 2021…”

See full story here.

Categories: Business, Government, International, Tech

Tags: "Flash Crash", behavioral economics, bitcoin, breaking news, crypto, Crypto Market, crypto mining, Cryptocurrency, democratic socialism, Dogecoin, economic left, economic news, economics news, featured, Flash Crash, keynesian economics, left media, leftism, leftist economic news, leftist media outlet, leftist news, Nayib Bukele, news, progressive, progressive economic news, progressive media, progressive media outlet, progressive movement, progressive news, progressive news sites, Salvadoran President, Salvadoran President Nayib Bukele, socialism