It’s been quite reddish in the cryptoworld these past few days as most Cryptocurrencies lost about 20% of their worth in just 48 hours.
Right now, it’s still uncertain what caused the price drop as Investors and traders are still in awe about what might have hit the cryptoworld this hard.
We have to keep in mind that in November 2017, something quite similar to this happened before the cryptos found their feet in December and didn’t look back.
Although if that might happen again it won’t be as high as what we saw last year’s which was really phenomenon. A lot of people think this might be because of the Google’s G Suite Twitter Account that was hacked by a Bitcoin enthusiast.
Bitcoin lost about 6.92% of its price in the past 24 hours, going from $4,973 to $4,479. While Bitcoincash lost 2.86%, going from $263 to $237 and dropping out of the top 10 cryptocurrencies.
Ethereum, which sits pretty in second place lost about 8.4% of its price, going from $151 to $134. While Ripple and Eos lost 7.05% and 7.07% to their prices respectively, going from $0.49 to $0.44 and $4.17 to $3.76.
Dash and Litecoin weren’t left out as well, as all the top 10 cryptocurrencies saw a major drop in prices. Dash went from $113 to $105, losing 3.25%, while Litecoin went from $38 to $33.5 losing about 7.86% in price in the past 24 hours.