Bitcoin & Ethereum’s value is sinking fast.
If you have any investments in Bitcoin, Ethereum, Litecoin or any type of cryptocurrency then, unfortunately, good news does not continue onward. One of the most trusted sites for checking the value of many cryptocurrencies is reporting the drastic drop in the value.
CoinMarketCap.com currently shows that for the first time since Decembre 14th, Bitcoin has dropped 15 percent to a $12,000 value. Ethereum dropped by 20 percent with its value sitting near $1,000. When looking at the chart that only reveals negative numbers, the only cryptocurrency that isn’t seeing a decline is Tether.
This drop in the market is making quite an impact considering just a month ago Bitcoin’s value was at $20,000. It’s unclear what is causing Bitcoin and many other cryptocurrencies to see such a drop, but the rollercoaster ride of its value seems to be very common.
Bloomberg recently reported that China – who accounts for a majority of crypto exchanges – will see a major clampdown on the trading platform. The publication notes how the Government is planning on blocking all domestic exchanges on both homegrown and offshore platforms.