Bitcoin And Crypto Market Plummets--Dealing Blows To Ripple (XRP), Ethereum, And Bitcoin Cash


Bitcoin and the wider cryptocurrency market, including major coins ripple (XRP), ethereum, bitcoin cash, stellar, EOS, and litecoin, have fallen sharply today ahead of a bitcoin cash fork that's threatening to tear the bitcoin rival apart.

Bitcoin fell below the psychological $6,000 mark for just the second time this year amid a wider sell-off that saw almost all major coins fall by at least 10%. Bitcoin dipped below $6,000 in June but quickly climbed back, according to CoinDesk's price tracker.

The bitcoin price plummetted to $5,534 on the Luxembourg-based Bitstamp exchange before rebounding somewhat. Earlier today a bitcoin price indicator, known as the "death cross", was seen for the first time since December 2014, CoinDesk reported.

The bitcoin price has been stuck in a downward trend all year—dragging the wider cryptocurrency market with it. The bitcoin price is down some 70% from its peak while the likes of other major cryptocurrencies ripple (XRP) and Ethereum are down around 80%.

The last time the bitcoin price was below $6,000 for any significant time was November 2017, suggesting that the bitcoin bull run many have been hoping will emerge in the run-up to Christmas will not appear.


Source: Forbes