RATE Group | What Triggered Bitcoin’s Sharp Price Plunge?
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What Triggered Bitcoin’s Sharp Price Plunge?

15 Nov What Triggered Bitcoin’s Sharp Price Plunge?

Posted at 01:27h in Bitcoin News by

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Bitcoin plunged today, hitting their lowest of 2018. Credit: Getty Royalty FreeGetty

Bitcoin prices dropped significantly today, falling below $5,400 and reaching their lowest since late last year.

The digital currency declined to as little as $5,390.12, losing more than 10% in the space of 24 hours and hitting a fresh 2018 low, CoinDesk price data reveals.

This downward movement took place as the broader cryptocurrency market also suffered notable losses, declining from a total value of $210 billion earlier in the day to almost $180 billion by roughly 15:30 UTC (approximately 10:30 a.m. ET), according to CoinMarketCap.

When explaining what caused the sharp decline in bitcoin prices, analysts generally pointed to either technical analysis or the uncertainty surrounding the upcoming hard fork in bitcoin cash.

[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be…

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