Bitcoin drop $1,400 in value, U.S dollar surge breaks Crypto market

The flagship crypto dropped over $1,400 in value within an hour, amid a strong rebound in the safe-haven currency.

• At the time of writing this report, the most popular crypto was trading around the $22,500 price level, dropping below its $23,900 daily high seen around 10 am GMT, as Crypto bears took hold of the best performing financial asset in recent times.

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The move comes as the U.S dollar surged rebounded strongly, as major economies including the United Kingdom lurched towards a total lockdown, amid a stern warning that it had discovered a new variant of the Covid-19 virus, whose transmission was out of control

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• At the time of writing the U.S dollar index the tracks, the dollar strength against major currencies gained 0.65% to 90.485.
• In addition, Ethereum the second most valuable crypto by market value was down over 5% to trade at $608, and XRP dropped as much as 9%, trading around $0.52, not forgetting Litecoin was also down more than 9%.

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