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Bitcoin Price falls below $8,000; other major cryptos too face a slump


Mar 15, 2018 Posted /  2486 Views


Bitcoin Price falls below $8,000; other major cryptos too face a slump

The price of the leading cryptocurrency has fallen below $8,000 according to Coinmarketcap, and currently is standing at $7,937 (at the time of writing) with a market capitalization of $134 bln slipping by almost 145 during the 24 hour period.

The price of bitcoin was trading at approximately $7,811.22, signifying a decline of over $300 from the open of $8,196.90. That low depicts the lowest rate since Feb. 11, when the BPI hit a low of $7,845.13.

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It is noteworthy that prices of bitcoin continue to decline amidst market developments, which highlight the continued weakness seen this week, as evidenced by bitcoin's slide toward $8,000 over the course of Wednesday's session. Not only Bitcoin, but other major cryptocurrencies are also witnessing market losses since yesterday, including ethereum, which slid below $600 for the first time since December. According to CoinMarketCap Data, the price of ether is trading at $588.32, a slump of about 4 percent since the open.

Ripple's XRP token is also continuing to slide, and it dropped to as low as $0.65. Data from OnChainFX discloses that all of the top-20 cryptocurrencies by market capitalization have slumped more than 10 percent in the past 24 hours, with many noticing drops of 15 percent or more. Among those, Cardano, vechain, IOTA, XEM, Lisk, NEO gas, and icon are all resting downward with over 20 percent decline within that period.

According to CoinMarketCap.com, the collective market capitalization of all cryptocurrencies is at its lowest point since February 6 with $314 bln at the time of writing.


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Tags: Ripple Cryptocurrencies coinmarketcap price of Bitcoin

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