MMOCoin

Home / Crypto Currency News / Newsflash: Bitcoin Price Drops $380; Ethereum, Ripple (XRP) Plunge 9%
bitcoin price crash rocket decline fall - Newsflash: Bitcoin Price Drops $380; Ethereum, Ripple (XRP) Plunge 9%

Newsflash: Bitcoin Price Drops $380; Ethereum, Ripple (XRP) Plunge 9%

Newsflash: Bitcoin Price Drops $380; Ethereum, Ripple (XRP) Plunge 9%


bitcoin price crash rocket decline fall 760x400 - Newsflash: Bitcoin Price Drops $380; Ethereum, Ripple (XRP) Plunge 9%

Cryptocurrency analysts had predicted that the bitcoin price was about to break away from its $6,550 peg, and those predictions came true early Thursday morning. Unfortunately for investors, though, this movement did not occur to the upside.

After briefly making a push toward $6,700 earlier in the week, the bitcoin price was holding steady between $6,550 and $6,600 leading into Thursday morning. Shortly before 1:00 UTC, however, BTC/USD took a steep downward turn, plunging from $6,594 to $6,252 in just 35 minutes. As of the time of writing, the flagship cryptocurrency was priced at $6,288 on Bitfinex, representing a daily decline of about five percent.

bitcoin price oct10 decline - Newsflash: Bitcoin Price Drops $380; Ethereum, Ripple (XRP) Plunge 9%
BTC/USD | Bitfinex

The drop was even more pronounced in altcoin markets, with ethereum and ripple (XRP) both taking a nine percent haircut, and bitcoin cash dropping a full 10 percent to $462. As of the time of writing, the cryptocurrency market cap stood just below the $206 billion mark.

Featured Image from Shutterstock. Charts from TradingView.

Follow us on Telegram or subscribe to our newsletter here.
Join CCN’s crypto community for $9.99 per month, click here.
Want exclusive analysis and crypto insights from Hacked.com? Click here.
Open Positions at CCN: Full Time and Part Time Journalists Wanted.

Advertisement


Check Also

daniel jones and eli manning afp - New York Giants QB Daniel Jones Just Retired His Hero Eli Manning

New York Giants QB Daniel Jones Just Retired His Hero Eli Manning

New York Giants QB Daniel Jones Just Retired His Hero Eli Manning Bad news for …

%d bloggers like this: