Crypto Prices Dive Off A Cliff, As Bitcoin Hits A 2018 Lowbr>
UPDATE: What started out as a dive has turned into a plunge, as bitcoin and other coins are losing huge amounts of value on massive trading volume.
Near noon Pacific time, bitcoin was down to $5,600, a drop of more than 11% and marking a new low for this year.
Similarly, the top ten coins were all in double digit losses, with Bitcoin Cash leading the way at nearly 20% down. Ether was particularly hard hit, crashing all the way to $177, while Litecoin was down 15%.
EARLIER: The crypto markets took a sudden fall this morning, diving in early trading and sending the top ten coins reeling. The immediate cause of the across-the-board reaction wasn’t clear, but may have been a prelude to the pending Bitcoin Cash hard fork set for tomorrow.
Bitcoin was down about 1.5 percent to the $6,200 level, while Bitcoin Cash itself plummeted more than 8%. Ether was barely holding on to the $200 level, while the rest of the market lost about 2% to 5%.