Bitcoin plunges 12% as China Sends Global Shudders Down Stock Market

9/22/2021- 12:37 p.m.

Bitcoin PLUNGES 12% as China Sends Global Shudders Down Stock Market

The price of Bitcoin has dropped sharply – changing hands for around $42,100 Wednesday morning, down 2.8% in 24 hours and a massive 12% since Sunday.

Bitcoin’s decline comes amid a wider stock market pull back with traders concerned of worldwide implications over the potential collapse of the China Evergrande Group.

The Dow Jones Industrial Average had fallen almost 2% between Friday and Tuesday and the NASDAQ Composite was also down 2% this week.

The spillover effects were also very apparent across the rest of the crypto world – Ethereum, Cardano, Binance Coin and Solana all sustaining even deeper losses than Bitcoin.