Home Cryptocurrency Cryptocurrency market drops due massive to sell-off
Cryptocurrency - August 15, 2018

Cryptocurrency market drops due massive to sell-off

Bitcoin falls below $5000 as altcoins plunge deeply

Crypto markets

The cryptocurrency industry has plunged deeply as Bitcoin; the leading cryptocurrency fell in price touching below $6000. According to CoinMarketCap the world’s most massive cryptocurrency indicator, the market has lost over $12 Billion in just 24 hours.

Ether was the biggest loser among the top 10 most valued cryptocurrency losing about 12% in value to trade at around $260 as of Tuesday. Generally, the crypto market is experiencing more liquidation as holders sell off their ICOs and cryptocurrency coins. “There is panic-selling across the industry, ” according to eToro’s Analyst Matthew Newton.

XRP, on the other hand, has a lousy trading history with over a 90% value drop since the beginning of 2018. The crypto market has been in shambles in 2018, and it seems that people are losing hope in the market. Bitcoin has been since the start of the year struggling and hasn’t achieved the set ATH of $20,000 set in December last year.

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