Bitcoin plunges nearly %5 after financial markets decline and IMF warnings about cryptocurrencies

Immage taken from Coinmarketcap

 

On the 11th of October 2018 the financial markets sow extreme volatility.

The Dow Jones fell around 500 points and the SNP 500 fell 150 points in one day.

Shortly the cryptocurrency markets followed. Bitcoin fell 400$ in minutes and it some exchanges it nearly reached 6000$.

Another catalyst was that the International Monetary Fund (IMF) warned that crytpocurrencies could result in vulnerabilities in the international financial system.

An indicator that shows the fear of a financial collapse is the search for save havens such as gold and silver. Gold jumped  from 1190$ to 1225% the same day.

 


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