Bitcoin led the price retreat as the flagship cryptocurrency dropped to $6,685, which is a $989 drop since yesterday. Ethereum and Ripple also fared badly as each of the two largest altcoins fell to a year-to-date low during intraday trading.

There has been a 13.29 per cent drop for Ethereum since yesterday and a 11.09 per cent drop for Litecoin. Their prices stand at $368.51 and $112.27 respectively.

Meanwhile, Bitcoin Cash saw a 11.15 per cent drop and stands at $717.14. Because of the volatile nature of cryptocurrency it is advised that people to not invest in it.

Cryptocurrencies have attracted an enormous amount of media attention over the past 12 months. It is unsure whether the price boom is just a temporary price spurt or if they will eventually become mainstream.

Following the success of Bitcoin hundreds of new cryptocurrencies have been issued over the past 12 months. Interest in investing in new un-tested online money forms took a tumble at the start of the year after the original cryptocurrency saw its value plunge. Read more from…

thumbnail courtesy of