ryptUpdated 9:28 am - Now cryptocurrencies are down 30-40%. Almost all of them.
Bitcoin and cryptocurrency market correction is in the play right now. Earlier last week, Bitcoin at one point reached $20,000 but in past 24 hours, the price of bitcoin has dropped below $13,000, i.e., almost 40% from its peak.
Prior to today’s correction, top 10 cryptocurrencies hit all time high but are down from 20-30% in past 24 hours. Bitcoin Cash, a fork of Bitcoin has dropped 30% in past 24 hours.
Also, in crypto market, market is flooded with negative news including several frauds, insider trading, and many others.
Some analysts are saying that one of the reasons of correction is, large bitcoin holders are selling their coins and taking profits.