capitalization collapsed by $33 billion

The first cryptocurrency was created as a response to the reckless policies of central banks and governments that led to the financial crisis of 2008. And what do we see ten years later? The global financial system is again in an incredibly vulnerable position. Hardly anyone would have guessed that the trigger for the next crisis would be the virus. However, the further the situation develops, the more realistic is the fact that the whole planet is sinking into self-isolation. In a globalized world, this is becoming an incredibly damaging factor for all countries, and the situation shows no sign of improvement.

Over the past 24 hours, Bitcoin has shown high volatility. The first cryptocurrency bounced to a local high of $7,900, slipped to $7,000 amid the European session, and then faced a massive dip, collapsing to $5,600. It was like a flash crash on the background of algorithmic trading. So, at the moment, we are witnessing the outcome of institutional…