Below $5,700: Bitcoin Plunges to Lowest Price in Over 12 Months
Bitcoin (BTC) fell to its lowest price in over 12 months on Wednesday amid a broader cryptocurrency market sell-off.
According to CoinDesk price data, as of press time, bitcoin’s lowest point in today’s session is $5,669 – the lowest reported price figure since Nov. 11 of last year. Wednesday’s session opened at $6,297.96.
Its price has since slightly recovered, now trading at an average price of about $5,804.54, representing a roughly 7.9 percent decline over the past 24-hours.
The sharp fall in bitcoin’s price was accompanied by steep sell-offs in other cryptocurrencies and digital assets as well.
According to data published by OnChainFX, tokens such as MANA and BAT and DNT are down in excess of 20 percent in the past 24 hours.
In total, the capitalization of the entire cryptocurrency market lost as much as $24 billion in value over the last 24 hours, registering at $190 billion as of press time, according to CoinMarketCap.
Amusement park ride image via Shutterstock
Disclosure: The author holds BTC, AST, REQ, OMG, FUEL, 1st and AMP at the time of writing.