Crypto Markets See Major Correction, Bitcoin Moves Back Below $12,000

Investing, News | June 27, 2019 By:

The cryptocurrency markets are seeing a major correction today, with some of the top ten coins registering double digit losses.

After a bullish price performance this week and trading as high as $13,796 during yesterday’s sessions, bitcoin has taken a steep price hit, losing more than 6 percent of its value over the last 24 hours. In early trading, the largest coin by market cap is at around $11,782 per coin.

Five major altcoins have suffered double digit losses on the day, including Bitcoin SV (15.93%), Litecoin (13.59%), EOS (13.21%), Bitcoin Cash (12.61%) and Ripple’s XRP (10.82%). Ethereum, the largest altcoin by market cap, has seen a slightly milder drop, and is down over 7 percent to trade at around $309.