Bitcoin continues to decline – price is down $1,000 since yesterday

Bitcoin continues to decline – price is down $1,000 since yesterday.

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Christian Ploog

christian.ploog@trijo.co

The total market cap of all cryptocurrencies has decreased by $37 billion. However, the reason behind the decline in the crypto markets is hard to know for sure.

Bitcoin has been through a rough patch lately. During Wednesday, the price dropped nearly $500 in the course of an hour. And during the night, it continued to sink.

In total, the price has gone from $7,380 just before lunch on Wednesday to $6,280 during Thursday night, according to the cryptocurrency exchange Bitstamp. This is a decrease of almost 15 percent.

Even the total market cap of all cryptocurrencies has decreased. Over the last 24 hours, the value has fallen by $37 billion – from $239 billion to $202 billion, according to Coinmarketcap.

Goldman Sachs puts crypto plans on hold

The reason behind the declines in the crypto markets is hard to know for sure.

However, it has been speculated that they may be due to a report from Bloomberg that the American investment bank Goldman Sachs has halted its plans to launch a crypto trading desk, something that would make the investment bank the first large Wall Street firm to enter into crypto trading for real.

Altcoins are dipping too

Almost all cryptocurrencies on top 100 have gone down in the last 24 hours. Among the biggest ones, eos (–22,54%), ethereum (–20,30%) and bitcoin cash (–19,88%) have gone down the most.

The ones that have decreased the most were pundi x (–29,27%), bytecoin (–28,42%), iost (–28,11%) and bitcoindark (–26,89%).

Asset: Price: % (24h)*
Bitcoin $6 426,91 –12,82%
Ethereum $226,41 –20,30%
Xrp $0,284715 –13,82%
Bitcoin cash $503,57 –19,88%
Eos $5,03 –22,54%

*All numbers in this article are from Coinmarketcap.com.

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