RATE Group | Bitcoin suffers big drop of more than $800 dollars over today
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Bitcoin suffers big drop of more than $800 dollars over today

15 Nov Bitcoin suffers big drop of more than $800 dollars over today

Posted at 05:31h in Bitcoin News by

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Price drops below key $6,000 level

On Wednesday the price of BTC fell to a more than one year low as reported in a Reuters article. On the way down it was able to break through the key support level of $6,000. This caused a wave of selling both of bitcoin but of other cryptocoins as well, This is a continuation of a slump that started early in 2018.

On the Bitstamp platform BTC fell as low as $5,533. When the article went to press it was down nine percent at $5,690.

Neem Aslam an analyst as ThinkMarkets an online brokerage said: “For the last few days you could see the consolidation happening and the price was moving on the downside. The break of $6,200 yesterday gave a fair indication that there are no buyers on the sidelines at this point.”

Whole cryptocurrency market in a down mood

The entire cryptocurrecny market suffered declines with ethereum, the second largest coin dropping down to a two-month low. At last reading it was down a full ten percent on the day at…

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