The price of bitcoin fell below $ 8,000. Market capitalization decreased by 10%

Today, March 9, the price of the first cryptocurrency fell below $ 8,000, pulling a wider market.

OnThe chart below shows that the drop was sharp, amid a surge in trading volumes. At some point, BTC touched the $ 7,684 mark, then won back a bit.

TradingView Bitstamp BTC / USD hourly chart

Most popular altcoins fell by more than 10%. So, for example, the top ten looks:

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Ethereum and Bitcoin SV returned to the $ 200 area, Litecoin now costs $ 50. The total market capitalization over the past day has decreased by 9.6% and now amounts to $ 226 billion.

Against the background of what is happening, the cryptocurrency “index of fear and greed” fell to mark 17 (“extreme degree of fear”):

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Note that cryptocurrency prices are falling against the backdrop of a collapse in oil prices:

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Brent crude fell by more than 20% - this is the largest daily drop in 29 years. Inversely correlated with “black gold”, the Russian ruble devalued by 6 +%, to almost 73 rubles / dollar.

Recall that earlier the head of the Binance exchange, Changpeng Zhao, predicted Bitcoin growth after halving the rewards for the block mined by miners.