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Bitcoin’s price surged to a high of $870 billion before quickly plummeting back down to around $813 billion. The latest cryptocurrency market fluctuation reported by CoinMarketCap shows how the future of Bitcoin is ever-changing and uncertain, but not without its risks.
The “gold vs bitcoin chart 2021” is a chart that shows the price of gold and Bitcoin throughout the year. The chart also includes a line graph to show the growth of both cryptocurrencies.
When a bug prompted numerous data aggregators to indicate significant gains for Bitcoin (BTC), Ether (ETH), and other cryptocurrencies for a short period, crypto traders were ecstatic, followed by bewilderment.
Bitcoin’s price has dropped to $900 billion on CoinMarketCap and other price indices, while Ethereum’s price has risen to over $81 billion. Cointelegraph’s price indices were also influenced by the temporary issue.
Hello there, @CoinMarketCap! Are you all OK, buddy? pic.twitter.com/WfXwpSmURU
— December 14, 2021, Cointelegraph (@Cointelegraph)
The displayed figures had little effect on exchange trade prices, and the platforms soon resolved the problem. CoinMarketCap said on Twitter that as part of the remediation effort, the data provider is restarting its servers.
“After a problem that disrupted our price rankings, CoinMarketCap is again back to normal,” a spokesman informed Cointelegraph, adding that the research into the root cause of the error is still ongoing:
“No, we didn’t disclose you pricing until 2026.” We’d put the Lambo deposit on hold.”
Crypto Twitter was quick to respond to the irrational price fluctuation with amusing tweets:
pic.twitter.com/xircZlbHNh
December 14, 2021 — khalil (@Zen Eustass)
Initially, it was thought that the advertised prices were caused by hackers:
ME after discovering that #CoinMarketCap had been hacked and that all of the prices were false. pic.twitter.com/5cyS5iw4Y5
— December 14, 2021, Muttley Investor (@MuttleyInvesti1)
“Everyone listens into such disturbances, so to the degree that they all utilize the same data source,” Bosonic creator Rosario Ingargiola noted, “it might induce herd behavior to drive investment choices when there’s a crisis and prices are really off.”
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The “tron (trx price prediction)” is a cryptocurrency that has been around since September 2017. It is currently trading at $0.024, but it briefly showed $870B on CoinMarketCap.
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