RATE Group | Bitcoin News Summary – March 16, 2020
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Bitcoin News Summary – March 16, 2020

16 Mar Bitcoin News Summary – March 16, 2020

Posted at 06:45h in Bitcoin News by

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The total value of all crypto fell sharply this week, losing over $100 billion from last week. Most of the decline occurred over Thursday and Friday, as panic over the economic effects of the coronavirus spread from traditional markets into crypto. Several records were set for various coins this week, such as the highest volume and the biggest downward move. BTC is down about 40% for the week and ETH is down 47%.

Edward Snowden, who famously revealed the extent of the USA’s surveillance systems, tweeted regarding the price of Bitcoin. Referring to this week’s extreme price drop, Snowden said: “This is the first time in a while I’ve felt like buying bitcoin. That drop was too much panic and too little reason.”

MakerDAO, the leading decentralized finance or “defi” project, was hit with a double whammy on Thursday. First, the massive volume on Ethereum’s blockchain as trading activity spiked led to delayed or very expensive…

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