Bitcoin And Alternative Cryptocurrencies Are Crashing Right Now
The price of Bitcoin has fallen more than 40% in the last week. Bitcoin is down 20% over the past 24 hours alone.
On Tuesday the price dropped below $6,000, according to CoinMarketCap. Earlier for 24 hours, each unit of Bitcoin was trading around $7,500. Last week the price of digital gold was above $10,000.
In December of 2017 the asset tested its all-time high nearly $20,000. Early on Tuesday, the price was down about 70 % from that high.
For comparison, if you invested in Bitcoin around $1,000 last week, it would be worth nearly $300 at the current moment. But if you had done the same thing yesterday, you would have already lost $200.
The altcoins also has been crashing in price. In the past 24 hours Ripple, Cardano, and Bitcoin Cash are all down more than 20%. And this comes after a similar dip last week, when cryptos like Ripple, Ethereum, and Litecoin all fell more than 25% in a single day.