Bitcoin Crashes Below $5,600, Erases 2020 Gains – March 12

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$5,929

Bitcoin price has crashed over 25% today through the $6,000 mark, in one of the asset’s worst performing days of all time.

Top-20 altcoins have not done any better, with Ethereum falling over 30%, XRP falling 26%, and Chainlink crashing over 39%.

Top Stories for March 12, 2020 🔥

👉 Bitcoin Crashes Below $5,600, Erases 2020 Gains

Bitcoin crashed in a matter of minutes this morning, wiping out its entire gains for the current year. Prices tagged $5,578 on Coinbase.

BitMEX liquidations on the XBT/USD trading pair totaled a whopping $680 million, as Bitcoin’s marketcap was slashed by 30% to $117 billion.

👉 Kraken Exchange Launches Foreign Exchange Trading

Cryptocurrency exchange Kraken released a blog post yesterday, announcing that it will be launching foreign exchange (FX) trading.

A total of 9 currency pairs will be made available, with the possibility of more pairs in the future. The initial trading pairs are EUR/CAD, USD/CAD, EUR/CHF, USD/CHF, EURJPY, USDJPY, EUR/USD, and GBP/USD, with a minimum trading size of 10 units.

Trades will not be allowed to margin trade the pairs, and they will not be available to US customers.

👉 BTC PoS Service Accused of Reporting Fraudulent Adoption Stats

TravelByBit, a Bitcoin point-of-sale company, has been accused of reporting fake statistics on merchant adoption.

Hayden Otto, CEO of BitcoinBCH.com, pointed out that the company claims to have over 400 physical merchants on board in Australia. Otto alleges that a large proportion of these physical stores are either non-existent, or based online.

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