Bitcoin investors beware: $6 billion cryptocurrencies' value gone in 1 day
Updated Oct 13, 2018 | 15:38 IST | ET Now DigitalEarlier this year, bitcoin prices skyrocketed to $20,000 per unit but since then the bitcoin has been on a falling trend.
About $6 billion of the market value of all the cryptocurrencies was lost on Friday itself.
Bitcoin prices have fallen a little more than 5% in one week to around $6,200 from $6,600.
The wave of bitcoin investing gathered unprecedented attention globally from late 2016. Everyone on the street wanted to make quick money riding by on the ballooning prices of bitcoin, other cryptocurrencies. Earlier this year, bitcoin prices skyrocketed to $20,000 per unit but since then the bitcoin has been on a falling trend. Other cryptocurrencies which also received investor’s eyeballs were ethereum and litecoin.
According to a CNBC report, about $6 billion of the market value of all the cryptocurrencies was lost on Friday itself. The entire market capitalization of cryptocurrencies plunged $6.72 billion in 24 hours on Friday, CNBC reported citing Coinmarketcap.com data.
