Nine out of top 10 cryptocurrencies nosedived on Wednesday following it to on Thursday losing as much as 15% from the level 24-hours-ago. Bitcoin dropped below $6,500 in the period, a cue followed by other major coins.
The most valued cryptocurrency in the world broke the $7,000 barrier Monday for the first time in last seven days and went on a roller coaster ride for next two days. The coin broke the barrier on Tuesday at 0100 UTC and never looked back.
At press time, bitcoin was exchanging hands at $6,384. The market cap of the cryptocurrency has also dropped to $109 billion, according to CoinMarketCap.
After a long gap, bitcoin had touched $8,000 last month. However, all hopes of its meteoric rise like last year were dashed as it tumbled in the subsequent fortnight.
On Wednesday, other coins such as ethereum (-10%), XRP (-14%), bitcoin cash (-13%) and EOS (-15%) were also trading in red at the time of reporting. Barring XRP, all of them continued their slide on Thursday at press time. Read more from moneycontrol.com…
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