Bitcoin Drops $300, Daily Losses Among Altcoins Reach 10%
Helen Partz's original article for cointelegraph.com reduced by 48%
Falling below $9,000, Bitcoin has seen another dip today and its price dropped over $200 in an hour. Alongside Bitcoin, the top 20 cryptocurrencies by market capitalization are seeing major losses of nearly 10% over the past 24 hours, according to data from Coin360. Following a fresh price decline, Bitcoin is trading down 4.9% at $8,736.
With its intraday high of $9,253, Bitcoin tumbled more than $500 earlier today and is down around 4% over the past seven days, with an intraweek high above $9,500. Among the top 20 cryptocurrencies by market cap, Unus Sed Leo is the only coin seeing gains at press time. Filling in futures gaps has reportedly become standard for Bitcoin, with analysts using them to predict potential declines in the market.
After China confirmed it's not planning to mine Bitcoin in the country anymore, the market's new downward movement contradicts Novogratz's statement.
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Summarised crypto news.