Crypto Market Erases $200 Billion In Market Value In 24 Hours, Regulator Warns Investors Could ‘Lose All Their Money’

SectorFinancial Markets
CountryMiddle east

Topline After a more than 100% surge over the past month, the cryptocurrency market is taking a massive hit Monday as regulators and other experts sound the alarm on bitcoin's booming rally, but not everyone's convinced the bearishness is warranted. The price of bitcoin has plunged a staggering 20% over the past day, and Bank Of America warns it’s ... [+] the “mother of all bubbles.” Getty Images Key Facts As of 10:30 a.m. EST, the value of the cryptocurrency market has tanked to about $900 billion from a high of $1.1 trillion early Sunday morning, according to crypto data firm CoinMarketCap.

The world's first and largest cryptocurrency, bitcoin, is behind much of the decline, falling 17% over the past 24 hours–wiping out about $125 billion in market value. Other top tokens are also plunging, with ether, XRP and litecoin down 21%, 16% and 25%, respectively. "As with all high-risk, speculative investments, consumers should make sure they understand what they’re investing in," the United Kingdom's Financial Conduct more...