MMOCoin

Home / Crypto Currency News / Newsflash: Bitcoin Price Sinks to $6,107 as Sell-Off Continues
shipwreck bitcoin price sink drown - Newsflash: Bitcoin Price Sinks to $6,107 as Sell-Off Continues

Newsflash: Bitcoin Price Sinks to $6,107 as Sell-Off Continues

Newsflash: Bitcoin Price Sinks to $6,107 as Sell-Off Continues


shipwreck bitcoin price sink drown 760x400 - Newsflash: Bitcoin Price Sinks to $6,107 as Sell-Off Continues

Get exclusive fiat and cryptocurrency analysis on Hacked.com for just $39 per month. Click here now!

The bitcoin price continued to barrel through support levels on Wednesday, pushing the flagship cryptocurrency within about $100 of its year-to-date low.

Bitcoin had entered the day on a downward trajectory, and — to no one’s surprise — continued to shed weight throughout the morning and early afternoon. At approximately 16:22 UTC, that decline became even more precipitous, as a series of large sell orders reduced the bitcoin price to $6,107 — its lowest mark since Feb. 5 and less than $110 from reaching a new year-to-date low.

bitcoin price selloff june13 - Newsflash: Bitcoin Price Sinks to $6,107 as Sell-Off Continues
BTC Price Chart

The sell-off is a continuation of a market correction that, despite several false recoveries, began in late December and has persisted throughout the first half of 2018.

However, today’s decline also correlated with the publication of new academic research that suggests last year’s rally was buttressed to some extent by market manipulation related to Tether’s dollar-pegged USDT token.

Many analysts remain bullish over the long-term, but bitcoin’s short-term prospects appear increasingly grim.

Click here for a real-time bitcoin price chart.

Featured Image from Shutterstock

Follow us on Telegram.
Advertisement

Check Also

Silk road - Not Guilty: Accused Silk Road Lieutenant Gary Davis Pleads Innocence

Not Guilty: Accused Silk Road Lieutenant Gary Davis Pleads Innocence

Not Guilty: Accused Silk Road Lieutenant Gary Davis Pleads Innocence Gary Davis, charged with assisting …

%d bloggers like this: