The sharp fall in the value of bitcoin and other crypto-coins on Friday, 22, forced several brokerage firms to suspend the purchase and sale of virtual securities for an indefinite period. Coinbase, the world’s largest bitcoin broker, was one of them.
In Brazil, the fall in the value of the digital currency reached more than 50%, overnight, as Tecnoblog found. Meanwhile, brokerages Foxbit and Mercado Bitcoin have also suspended negotiations to keep prices from falling further.
The decline was global and hit all the major crypto-coins on the market, including ethereum, litecoin and many others. In a year when bitcoin alone grew more than 1,300% against the dollar, the nearly 30% drop in 24 hours has been viewed with concern.
It is not yet known what has made the value of virtual coins plummet so much in such a short time. This may be “the bubble burst,” as some experts predicted, or just a brief correction.