Bitcoin rate fell below $ 3,800. It traded around $ 3788.9 (-9%). And its market capitalization dropped to 62.9 billion dollars.
Right now, the first cryptocurrency trades at $ 3825, according to Eth-Price. In last 24 hours, Bitcoin demonstrated the negative decline of -4.35%.
Following Bitcoin, all the cryptocurrencies that are included in the top 10 in terms of capitalization are getting cheaper. IOTA (-18%), NEM (-13%) and Ethereum (-11%) demonstrated the strongest decline. In last 24 hours, Ethereum fell by -4.53%.
Among the 100 cryptocurrencies, only three showed growth: Tether, I/O Coin and FairCoin.
The total market capitalization of the cryptocurrency decreased to $ 131.6 billion. At the moment of publication, it’s $ 133.4 billion.
What is affecting Bitcoin rate?
The main reason that the Bitcoin rate is falling is the news from China. It already affected the Bitcoin price before. China plans to ban and close all local bitcoin-exchanges. Can the government really ban Bitcoin though? Read more on our blog.
In addition, the head of JP Morgan Chase financial holding James Dimon influenced the dynamics of Bitcoin rate. He criticized the cryptocurrency and Bitcoin calling it “fake”. He also promised to fire traders for trading Bitcoins. Check later for more news!