Cryptocurrency Market Sees a Massive Dip as Bitcoin, Dogecoin Price Fall Sharply on China Ban, Musk Tweets
Cryptocurrency exchanges in India like WazirX were unable to manage the high trading volumes as Bitcoin, Dogecoin prices nosedived. By Veer Arjun Singh | Updated: 20 May 2021 14:10 IST
Photo Credit: Reuters
Highlights
Dogecoin price was Rs. 19 at its lowest
Ethereum, Ripple, Matic, and Binance Coin were also down
Bitcoin, Dogecoin prices along with that of other popular cryptocurrencies such as Ether, Matic, and Binance Coin fell sharply on Wednesday (May 19), leading to a trading rush that Indian exchanges struggled to manage. Bitcoin, the largest and the most popular cryptocurrency in the world with a market cap of over $1 trillion (roughly Rs. 73,00,000 crore), was trading dangerously close to $30,000 (roughly Rs. 22 lakh) at around 7pm IST on Wednesday a 21 percent dip before showing a quick recovery, according to data from Binanc