Bitcoin Falls to $6,050, Establishes New 1 Month Low

When many thought it couldn’t get much worse, it did, with Bitcoin recently falling by over $300 in the matter of an hour. As of the time of press, Bitcoin sits at the price of $6,050, following an influx of selling pressure, with the sell-side sentiment quickly cascading throughout the market.

On some exchanges, like the Europe-based Bitstamp, Bitcoin even spent some time under the $6,000  price level, as the order books on that exchange might have been too shallow to handle this influx of sell-side volume.

Altcoins followed Bitcoin’s move downwards and arguably had it worse than the foremost crypto asset, as Bitcoin’s dominance figure now shows. As per CoinMarketCap data, Bitcoin’s value now accounts for 49.4% of all of the cryptocurrency market, which is the highest this measure has been at in over six months. Out of all of the cryptocurrencies in the top 10, IOTA and Ethereum have posted the most substantial losses, losing 14% and 11% respectively in just a matter of…