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Bitcoin: Cryptocurrency price drop on the stock exchange, Ether crash

2021-12-04T06:39:53.498Z

Corona worries, inflation and the impending bankruptcy of Evergrande are not only shaking up the stock markets. Bitcoin and Co. collapse on the crypto markets. The world's most important cryptocurrency is losing around 20 percent.



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Bitcoin:

The cryptocurrency plunges around 20 percent

Photo: DADO RUVIC / REUTERS

Price drop on the crypto exchanges: A sell-off of the crypto currencies Bitcoin and Ether on Saturday night also sent the smaller crypto currencies downhill. In view of the worldwide spread of the Corona mutation Omikron, an impending bankruptcy of the real estate giant Evergrande in China and in view of high inflation, investors shy away from the risk and bring money to safety. They sold stocks as well as crypto assets on a large scale. The world's most important cryptocurrency, Bitcoin, plunged around 20 percent on Saturday night, falling to $ 47,500. That is the lowest level since the end of September.

Four weeks ago, Bitcoin was still trading at $ 68,000.

Since then, the cyber motto has lost around 30 percent of its value.

The crypto currency Ethereum was also unable to escape the wave of sales.

The fear of another price slide on the global stock exchanges means that crypto investors are also bringing money to safety.

Many are sitting on high profits: At the beginning of the year, Bitcoin still cost around 32,000 US dollars and more than doubled to its record high in early November.

Global stock markets also showed weakness on Friday, especially the highly valued tech stocks.

The wave of sales contributed to the fact that the Chinese real estate giant Evergrande warned of a possible insolvency on Friday afternoon.

The index of the technology

exchange

Nasdaq 100

collapsed at times by around 3 percent on Friday and then closed almost 2 percent weaker at 15,712 points.

Investors parted ways with big

tech stocks like Tesla, Nvidia, Microsoft and Apple

, which each fell between 4 and 6 percent.

The

Dow Jones index of

the standard values, however, was able to limit its losses in the last few minutes of trading and closed only slightly lower.

Gold and government bonds in demand

The dollar went up and down, the euro leveled off again at just under $ 1.13 after a temporary increase.

Government bonds were in demand as a safe haven.

As a result, the yield on ten-year US paper fell to 1.387 percent.

This was the first time since September that it was below the 1.4 percent mark.

The gold price also rose, with the troy ounce rising by half a percent to $ 1,777.

Didi withdraws from the US stock exchange

The proposed withdrawal from Wall Street weighed on Didi's shares.

The papers of the Chinese travel agent collapsed in New York by up to 16.7 percent to a record low of 6.50 dollars.

Shares in other Chinese companies such as Alibaba, JD.com and Vipshop also fell significantly.

Uber competitor Didi went public five months ago, despite the Chinese government's request to postpone the plans, and has been the target of regulators in the People's Republic ever since.

Dax only just over 15,000 points

Price losses in Germany too: The Dax's attempt to recover on Friday failed for the time being: The German benchmark index gave up its initial gains and increased its losses in late trading.

Most recently, the Dax fell below the 15,200 mark - so the round mark of 15,000 points is also in danger.

The MDax of medium-sized companies also fell, as did the leading Eurozone index EuroStoxx 50.

The experts at Landesbank Helaba see the danger for the Dax not yet averted.

Another focus for them is the battle for the technically important 200-day line - most recently the index was clearly below it.

Oil prices are increasing

Oil prices rose sharply, although the large exporting countries did not pause as hoped with their monthly expansion of production capacities. The BrentLCOc1 variety from the North Sea rose by more than 2.5 percent to $ 71.40 per barrel (159 liters). In the stock markets, the oil and gas sector was one of the biggest winners. Chevron's papers gained 1.4 percent.

In the first few days of trading in December, there were strong price fluctuations on the oil market in connection with a meeting of the OPEC + oil association.

The alliance of oil states, led by Saudi Arabia and Russia, has decided to hold on to its planned production increase despite global concerns about Omikron.

The ministers of Opec + assured, however, that they will keep a close eye on the global corona development "and will make quick adjustments if necessary".

The current rise in oil prices was explained on the market with the insurance company Opec +, if necessary to react to an escalation of the corona crisis.

At the end of November, the appearance of the variant classified as worrying triggered a rapid decline in oil prices.

With news agencies

Source: spiegel

All news articles on 2021-12-04

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