Bitcoin Price: Bitcoin and other cryptocurrencies price fall randomly these days. Since December the price of Bitcoin and other virtual coins went peak as many investors came forward to invest in it. But from mid-January, the price of Cryptocurrencies has fallen off.
Because of this investors are afraid and they came forward to sell off all the cryptos. From there the price of Bitcoin and other cryptocurrencies has dipped below. In the end of December, Bitcoin has reached $20K. But today it is dipped as low as $6K. The main reason for this is regulations on cryptocurrency trading in South Korea and China recently.
The overall cryptocurrency market is down more than 50 percent from the highs seen in early January when the overall market capitalization was north of $800 billion. Among the cryptocurrencies impacted are ether, which slid below $700, and bitcoin cash, the breakaway cryptocurrency which has fallen under $1,000. Also, the stock market crash is expected today which may have a further effect on cryptocurrency market.
The crash in cryptocurrency market is mainly because China bans foreign exchanges platform on trading cryptocurrency. Because of this investors is selling the cryptocurrencies. The current price of Bitcoin is $6,298.63 which is as low as 23%.