Reactions have began trailing the massive crash of cryptocurrencies, the first of its kind since it gained wide acceptance in January 2021.
It was learnt that prices of major currencies, including Bitcoin, Dogecoin, Ethereum, BNB and others crashed as much as 30% within 24 hours.
In February, the Federal Government had advised against investing in crypto trading and mandated banks to block accounts of customers who have traded.
In an interview with our correspondent in Yenagoa, the Bayelsa State capital, some investors counted their losses, lamenting about the situation.
A crypto investor, Charity Tolu, said she is devastated over the situation, and regretted ever investing 90 percent of all she has into it, adding that the crash has affected her so badly.
“As I speak to you now, I don’t know what to do. I was convinced that it will never fall or crash but see what is happening now. Its so painful, almost all my money, is there. I just hope I recover from this.
Another investor, Evans Okuma, said cryptocurrency was crashing at a time his money is still tied to Baraza Multipurpose Cooperative Society.
“My money in Baraza is still hanging and now this. I am trying to be fine but at all am not. I really hope that this is not true”.
Bitcoin took the hit last week, after Elon Musk discontinued Tesla payment for its cars using Bitcoin .
The billionaire cited the energy used by Bitcoin mining for his decision.
Bitcoin was still recovering from that when China banned the trading of cryptocurrencies in the most populous country in the world.
The aftermath of the decision by the Chinese authorities was not pretty for cryptocurrency investors around the world.
As at the time of this report Bitcoin, the most popular and valuable token has sunk to -1.19%, while Ethereum is currently at -10.37%, BNB has also crashed to-16.58% and Dodge coin who gained more foot this year with Elon Musk influence is at -12.67%.