After remaining fairly stable at around $10,000 for several months, the price of Bitcoin plummeted by roughly 15% late on Tuesday, reaching a low of $8,165 on Coinbase.
Other major cryptocurrencies, like Ethereum and XRP, followed suit, recording similarly drastic losses before recovering slightly. The prices at writing time are $8,398.1 for Bitcoin, $165.9 for Ethereum, and $0.24 for XRP according to CoinMarketCap.
Sharp losses and gains in the world of cryptocurrencies aren’t uncommon, but this event is interesting for several reasons. Besides breaking a period of relative stability and pushing the prices of major cryptocurrencies to levels unseen by June, it comes after a few interesting developments for the crypto space. Read more…
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