RATE Group | Bitcoin Has Suddenly Dropped 5% — Dragging Ripple (XRP) And Ethereum Prices With It
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Bitcoin Has Suddenly Dropped 5% — Dragging Ripple (XRP) And Ethereum Prices With It

11 Oct Bitcoin Has Suddenly Dropped 5% — Dragging Ripple (XRP) And Ethereum Prices With It

Posted at 02:23h in Ethereum News by

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Bitcoin, which has been remarkably stable for a number of months, has suddenly lost more than 5% of its value, causing other major cryptocurrencies, including ripple (XRP), ethereum, stellar, litecoin, EOS, and bitcoin cash to plummet along with it.

Earlier this month the bitcoin price hit a 17-month volatility low but that period of calm now appears to be over, with the bitcoin price taking a hit that wiped billions of dollars from its market capitalization within minutes, according to CoinDesk data.

Shortly after the initial bitcoin price nose-dive, it did somewhat recover — clawing back some of its lost ground. Bitcoin was earlier today trading at around $6,500 — where it has been for the past couple of months. It briefly fell to $6,125, but then recovered to around $6,200.

Bitcoin’s recent ebbing price (down from highs of almost 20,000 at the end of last year) has been put down to a fall in trading volume since its peak at the end of 2017 — something that has hit…

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