Bitcoin price fell to its lowest point since February 6th on Wednesday to hit $6,371 (Bitfinex) in a slide near its year-to-date low amid a continuing struggle to find a stable support level.
The days following ‘Bloody Sunday’, wherein the cryptocurrency market lost over $40 billion over the weekend, have seen continued depreciation for all major coins.
While its losses weren’t as pronounced as the other major cryptocurrencies, bitcoin price notably fell to its second-lowest level in 2018 during the early trading hours of Wednesday. Bitcoin’s value dropped to $6,371 at 10 AM UTC, dropping nearly 2 percent over the last hour.
At press-time, bitcoin price is making an advance again toward $6,450, although losing 6.24% altogether in the last 24 hours.
On Tuesday, Ethereum price fell below the key $500 mark while Litecoin is trading at $95, a figure unseen since early December 2017.
Among the top ten cryptocurrencies, IOTA sees the biggest loss over a 24-hour period in losing 14.60 percent of its value and is now down 30.3 percent over the last 7 days.
According to data from CoinmarketCap, the overall market cap now stands at $274.2 billion, a decline of over 67% from its all-time high near $835 billion earlier this year.
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Featured image from Shutterstock.
Samburaj is Editor of CCN.com, one of the earliest and foremost publications covering blockchain, and financial technology news. Now focusing on Markets, Showbiz, Sports, and Gaming. He has authored over 2,000 articles for CCN.com. Reach him at [email protected]. Visit his LinkedIn profile here.
