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The bitcoin assess plunged below $6,700 on Sunday as the market endured a double-digit portion sell-off.
The cryptocurrency markets had traded down for the majority of the weekend, and on Sunday morning the bitcoin penalty began to tumble toward the $7,000 mark. At approximately 17:30 UTC, help for that level began to evaporate, and bitcoin rapidly careened as low as $6,630 previous experiencing a minor recovery to $6,724 when this article was written at 18:53.
BTC Amount Chart
For the day, bitcoin is down nearly 11 percent, while most large-cap altcoins contain seen their prices fall by 12 percent or more. The worst briefly pulled the cryptocurrency market cap below $300 billion, nevertheless it is currently holding just above $301 billion.
As CCN reported this morning — when bitcoin was pacify trading above $7,200 — the price decline has correlated with meaningful decreases in trading volume over the past two months. This lowering in volume not only signals short-term uncertainty among investors but also primes the trade in for more violent price swings.
Click here for a real-time bitcoin assess chart.
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