- Cryptocurrencies across the board are nursing big losses on
Thursday as the global market sell-off hitting traditional assets
- All major crypto assets are down on Thursday, with the likes
of ethereum and bitcoin cash losing more than 10% of their value.
- Bitcoin plunged more than 7% overnight, but has now recovered
a little, and is trading down roughly 5%.
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Cryptocurrencies across the board are nursing big losses on
the global market sell-off hitting traditional assets
Bitcoin, the benchmark cryptocurrency, dropped suddenly and
sharply in Asian trading overnight, losing as much as 7%, before
rebounding a little.
It is now holding at a loss of around 5% on the day, trading at
$6,266 per coin.
While bitcoin has led the way lower on Thursday, other major
cryptocurrencies including Ether, Ripple, and bitcoin cash have
witnessed even larger falls. Here’s the scoreboard:
Ether -11.2% at $200.28
XRP -11.5% at $0.4097
cash -12.6% at $450.80
Previously, bitcoin and other cryptocurrencies tended to rally
during periods of poor performance for traditional assets like
stocks, reflecting their status as something of a haven. However,
in recent months that has flipped, with cryptocurrencies tending
to follow traditional stock markets in their moves.
Get the latest Bitcoin price here.>>