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$200 Billion Crypto Price Crash

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Bitcoin and cryptocurrency prices have suddenly crashed lower, falling sharply after weeks of malaise.

The bitcoin price dropped under the closely-watched $30,000 per bitcoin level as smaller cryptocurrencies including ethereum, Binance's BNB, cardano, Ripple's XRP and the meme-based dogecoin recorded double-digit percentage losses, wiping away $200 billion in value over the last week (subscribe now to Forbes' CryptoAsset & Blockchain Advisor and discover crypto blockbusters poised for 1,000% gains).

The sudden bitcoin and crypto move lower coincides with a global stock market sell-off yesterday that saw the Dow Jones Industrial Average post its biggest one-day point drop since October as fears mount the highly contagious Covid-19 Delta variant could set back economic recovery efforts.

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