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The post Evergrande’s Bankruptcy Filing Causes Bitcoin to Crash by 7%! appeared first on Coinpedia Fintech News
In a dramatic turn of events, China’s Evergrande Group has filed for bankruptcy, leading to panic in the crypto market. Bitcoin, the leading cryptocurrency, was not immune to the fallout and suffered a massive 7% decline in just 24 hours. This caused it to crash below the critical $26,000 mark and is currently trading at a low of $26,500 on August 18. As the market continues to react to Evergrande’s collapse, it remains to be seen how Bitcoin and the broader crypto market will hold up in the face of this significant event.
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