Jasper Hamill

Wednesday 21 Feb 2018 10:56 am

Bitcoin price plummets as mass sell-off drives down value of cryptocurrency and rivals Ethereum, Ripple and Litecoin.

The prices of all major cryptocurrencies plummeted overnight, with analysts claiming a mass sell-off of Bitcoin is to blame.

Bitcoin dropped by almost 10%, before buoying up to hits its current value of just under $11,000. Litecoin and Ethereum also dropped, with Ripple recording a less dramatic plunge.

All the other major cryptocurrencies are also down, with Monero the only of the top 20 biggest virtual coins to show price growth.

Experts are split on whether Bitcoin and its rivals are set to soar to new heights this year or become worthless when the crypto-bubble bursts. ‘The cryptocurrency is up at least 85 percent from lows seen on February 6,’ the website Coindesk wrote.

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‘Still, many in the investor community believes the sharp rise from the lows below $6,000 is only a ‘corrective rally’ inside the bigger downtrend.’

 

 

 

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