The exchange rate of the most popular cryptocurrency, Bitcoin, is falling sharply and headed for 18 thousand dollars. Ethereum that switched to a new algorithm loses even more value. All of the top ten cryptocurrencies moved into the red zone.
In just one day, the price of the main cryptocurrency fell by as much as 8%, and after falling below $19,000, it continued to go down. Bitcoin is currently trading at around $18,400, with the drop in price accompanied by a surge in trading volume.
Bitcoin’s market cap fell to $353 billion. The second largest cryptocurrency (by market cap) and main altcoin Ethereum has lost 11% in the last day and is now trading at just $1,300. The market capitalization of this cryptocurrency fell to $158 billion.
All top ten cryptocurrencies also moved down into the red zone. Cardano fell the most, losing 9% of its value. The downward trend continues and it is not yet clear at what level the decline will stop.