Recent Oil Price Crash Sees the Crypto Market Count $26B Loss

On March 9, 2020, a report by CNBC showed that the cryptocurrency industry lost more than $26 Billion in a day, after the recent oil prices collapse, which dropped by almost 30%. Cryptocurrency holders rushed to sell off their stocks after North Sea’s extracted oil benchmark Brent Crude’s futures fell by 34% to sell at $27.34 a barrel, recording its lowest price in four years. Bitcoin, the leading cryptocurrency by market capitalization, crashed by 8%, together with significant altcoins, including…