The stock market dropped $6 billion after the news about the hacking of Binance, but BTC stays above $5800


Cryptocurrency market responded quickly to news about the hacking of Binance, losing more than $6 billion, but Bitcoin continues to hold above $5800.

Cryptocurrency and Bitcoin market quickly responded to the hacking Binance, in which the exchange has lost 7 000 BTC. All crypto community is still recovering, and, although the price of Bitcoin has fallen sharply, at the moment it is kept much above $5800.

Before this shocking news, Bitcoin was trading for about $5925 closer to around $6,000. However, after reports of hacking, the most popular cryptocurrency in the world fell by about 3% per hour to $5720 on Coinbase and Bitstamp.

Binance announces security breach, hackers have gone from 7000 BTC.

Perhaps for many it has become a bit of a surprise that against the background of such news, Bitcoin is still able to recover to the level of $5870.

The situation remains unclear

At the moment it is still unclear what will further the consequences of breaking Binance, because at any moment you may receive new information after the full scan by the exchange of security systems and investigations. But at the moment it seems that the price of Bitcoin remains strong.

Some expressed confidence that in the future everything will be okay, when compared with the Mt Gox hack in 2014. The whole cryptocurrency market instantly plunged more than $6 billion in less than an hour. Total market capitalization is about $188 billion, fell sharply to $182 billion, but has since recovered to $2 billion.

It should be noted that altcoins noted a more severe drop than BTC, especially Ethereum, Binance Coin and Cardano.

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Tags: Binance Bitstamp BTC Coinbase Mt. Gox Bitcoin Binns


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