Bloomberg News reported on the 10th that Bitcoin, which had been falling repeatedly, eventually collapsed under $30,000.
Bloomberg reported that Bitcoin eventually collapsed $30,000 on the Asian exchange.
◇ Bitcoin’s $30,000 collapse is the first since July last year: Bitcoin has been pushed back to $29,992 in Asian transactions. Bitcoin collapsed $30,000 for the first time since July last year. As a result, Bitcoin plunged 55% from its highest point recorded in November last year.
At the same time, Bitcoin also plunged 12.09% from 24 hours ago to $29,999 on CoinMarketCap, a global cryptocurrency market relay site, resulting in a collapse of collapse.
Michael Novogratz, a billionaire cryptocurrency investor leading the Galaxy Digital Holdings, warned that “the situation will get worse.”
Bitcoin will remain very unstable in the coming quarters, he said. “It is expected to take a considerable amount of time for the market to balance.”
◇ Stablecoin is also on alert as Bitcoin plunged.
This is because UST, a Korean cryptocurrency company, once broke the dollar peg. UST is a ‘stable coin’ linked to the dollar. It is pegged at 1 dollar per U.S. dollar. However, UST once fell to $0.987 during the day, breaking a dollar peg.
When Bitcoin plunged, UST’s dollar peg seems to have broken. The UST’s dollar peg was also broken in the previous week.
UST is pegged to the dollar, and its value is supported by Luna. To this end, Luna Foundation has recently collected Bitcoin.