The digital currencies are facing the critical situations and every single is now noticing the double digit drop in its value. Bitcoin reached to $20,000 mark in December and this crypto coin is now fallen to sub $10,000 on Bittrex and Coinbase exchanges. The Bitcoin was at the 24 hours low of $9,450 at Bittrex and coinbase was registered to $9969.01, which is around 3:33 am PKT.
Why it Crashed
There are different factors behind the sudden crash of the most of the cryptocurrencies. South Korea has done the legislation to regulate the crypto exchanges and the impending regulations on the Bitcoin in Germany and it faced the crackdown in China.
The fall of virtual currency to be subsidized and Bitcoin is trading at $10,964 and Ethereum at $971. It is said if it is ended for crypto coin crash or not and their values are now going to rise. If the value of the currency is still going to decline, we will see the value of Bitcoin recede to $8000 marks. Ethereum has fallen from $1300+ level this weekend to $900.
Expect More Drastic Rise / Falls
The venture capitalists joined he crypto fold and the drastic rise and fall in the price of Bitcoin may become normal. The recent fall in the value of Bitcoin has affected its fortune. Bitcoin is above $10,000 on Coinbase and Bittrex. The former stops the trading during slumps and the exchange has not made the decision yet.
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