News

Apple Stock Plunges, Losing As Much As The Bitcoin Market Cap Within 24 Hours

Apple’s stocks have seen a great loss of about $65 billion in a day, which is almost an equivalent of the Bitcoin market cap. The loss which marks the highest plunge the apple market has seen of recent indicates the crypto market is still evolving.

Apple Stock Loss

A single day loss of the value of $65 billion on the 3rd of January by the Apple stock represents the lowest level the stock is trading since July 2017, and also one of the worst plunges the phone maker has faced since 2013. The recent fall of the market has pushed Apple below $700 billion which makes it trade at a lesser cap than the market cap of its rival Alphabet Inc (Google).
Notably, the worth of the stock market loss is almost equivalent of the valuation of the Bitcoin market cap. The valuation of the Bitcoin market at the moment stands at $67 billion which indicates that the Bitcoin and the crypto market is still evolving. The present valuation of the Bitcoin market and the projection of what it could become indicates that investing in this period when the market is at a low ebb will be an excellent decision to make.

Crypto Market Loss and Other Stock Market Loss

The year 2018 till this moment has been a very difficult period for the crypto market. This has seen a great shed in the valuation of the crypto market compared to prices reached during 2017. The year 2018 witnessed the loss of about $700 billion in the market cap of cryptocurrency which is about 85 percent loss of the market prices.
Meanwhile, the loss that has taken place in the crypto market over the past one year has seen a greater toll on other top stock markets in the world. The FAANG (Facebook, Amazon, Apple, Netflix, Google) stocks’ have seen a greater loss recently. The valuation of their losses in recent months is reach $1 trillion.
The experience of the top stocks markets in the world failing shows that the bearish trend the crypto market faces is not exclusive of cryptocurrencies only but also shared by other world markets.
Meanwhile, top economists and billionaires such as Warren Buffet, among others expect a greater economic meltdown down the 2008 experience is in the offing. However, while the specific period is unknown, cryptocurrencies have been predicted to become a haven for investors by Robert Kiyosaki, the author of the best selling book ‘Rich Dad Poor Dad’.

Related posts
cryptocurrencyDOGEdogecoinDOGEUSDElon MuskNews

Be Careful! Elon Musk Warns As Dogecoin Soars On SNL Eve

In the warm-up to a special Saturday Night Live Edition featuring the self-acclaimed billionaire dogefather, Elon Musk, Dogecoin (DOGE) has recorded tremendous speculative success and is currently sprinting past the $0.6 mark in a bid to cross the $1 epic…
cryptocurrencyNewsRippleSECXRP NewsXRPUSDXRPUSDT

A Look At What’s In Store For XRP If Ripple Eventually Goes Public After SEC Case

Fired up by the soaring success of Coinbase, Ripple Labs Inc, the establishment behind the fifth most valuable cryptocurrency – XRP, has disclosed plans to issue an Initial Public Offering after it is done with its court case. The embattled altcoin…
BanksBinancebnbusdcryptocurrencyCryptocurrency NewsNews

Banks Refusing To Work With Crypto Will Pay A Hefty Price: Binance CEO CZ

The CEO of Binance has been very vocal about his stances on the cryptocurrency market. Yesterday, the CEO revealed he may have underestimated cryptocurrencies like DOGE, ETH, BTC, and BNB. He even emphasized DOGE’s impressive performance, despite holding zero Dogecoin….