Bitcoin, Ethereum, Ripple's XRP, and Cardano are all in danger of being wiped out in a massive $300 billion price crash.
Early Sunday morning, bitcoin and the broader cryptocurrency sector, like ethereum, Ripple's XRP, and cardano, were hit by a sudden flash crash, sending prices plummeting (though Elon Musk's "favorite" crypto dogecoin is keeping steady).
The bitcoin price, which had been trending downwards toward $60,000 per bitcoin earlier this week, has fallen more than 10% to just over $50,000. The bitcoin price has since recovered to about $55,000, but it is still a long way from its recent highs around $65,000.
Bitcoin bull and Galaxy Digital CEO Mike Novogratz cautioned of a "washout" ahead ahead of the cryptocurrency flash crash, which wiped $300 billion from the combined bitcoin, ethereum, XRP, cardano, and wider $2 trillion crypto sector.