Bitcoin dips by 0.63% to trade at $48,997.87

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Popular cryptocurrency, Bitcoin, dipped by 0.63% to trade at $48,997.87 in the early hours of Monday.

This is coming after a previous 20% drop to trade at $42,000 over the weekend.

Experts say the results played out against the bullishness of investors as they had predicted a run at $100,000 a week ago.

This is also amidst uncertainty over the Federal Reserve inching towards tighter monetary policy in the face of surging inflation, and global fears over the new Omicron variant of COVID-19.

The dramatic crash was super-charged by liquidations in the crypto derivatives market, market players say.

Similarly, Ethereum, the world’s second largest cryptocurrency by market capitalization dropped by 0.98% to trade at $4,160.10.

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Francis Ogwo
The young and goal driven writer and cinematographer started his journalism as a print journalist in Kaduna in 2005 writing for Kaduna Chronicles Newspapers, Liberator Newspapers where he became the South Bureau Chief. In 2008, he moved into TV production with an employment into Siverbird Television and Rhythm Fm as a Correspondent. He got certified by Independent Television Producers Association of Nigeria(ITPAN) in 2009. After five years of hardwork and training, he was employed as Associate Producer, Moments With Mo and subsequently Producer, Playground on HipTV. Francis currently majors in documentaries and high profile scripts for news and movies. He is currently a Senior Contents Producer at News Central TV

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