Crypto Bloodbath Continues as Bitcoin Drops Below $8000

The most popular cryptocurrency, Bitcoin, has fallen below $8,000 across most crypto exchanges and has just returned to over $8000 at the time of writing.

On Thursday, its price fell as low as $7,811.22, which is the lowest recorded value since February 11 – when the price stood at $7,845.13. Bitcoin’s value seems to be at a steady decline and is expected to fall even further.

Yesterday (Wednesday), the price was close to $9,000, which was already down from its previous valuation of near $9,500.

Bitcoin has been fluctuating in both directions, it climbed above $10,000 around a week ago and then decreased significantly to eventually touch the $9,000 mark.


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Other Currencies

Other popular cryptocurrencies are showing declining values as well – Ethereum slid below $600 and is currently trading at $614.36. Ripple has fallen around 16.34 percent and stands at $0.66.

According to a noted publisher’s calculation, the market cap of each cryptocurrency, making up the top-20, has fallen as much as 10 percent. VeChain, IOTA, Cardano, NEO, and TRON have all declined by 20 percent on average. Cryptocurrencies have

The market capitalization of every cryptocurrency is at it’s lowest since February 6th, according to CoinMarketCap.


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Why it Declined

The fall is being attributed to coin sell-offs. A recent US congressional hearing on March 14th may have also caused the decline. Several government officials and representatives are moving for regulatory measures to be introduced on cryptocurrency, in order to protect the investors.

The price has been fluctuating due to some positive developments as well. Popular crypto exchange Binance has announced that it’s planning to start its own blockchain network called Binance Chain. Reuters, meanwhile, is launching a Bitcoin Sentiment Data Feed, to help the investors track the crypto market’s situation.

  • Every other day a new cryptocurrency is coming to market. Within few years crypto market will get saturated by so many crypto currencies. Overall these are also highly unstable and insecure. You just lose the key and you are doomed. There is no way you could recover your money if you lose the key.

  • Mujhey koi ye bata sakta hy k aakhir pakistan kar kya raha hy,,
    sorry to commenting here, because i have no any platform to tell the truth, i am a user of Propakistani, and i am also a Paki and proud to be,
    But mujhe koi ye bata sakta hy k pakistan kab blockchain mein ayega,, bs ek coin bana k bethgey hein sare k sare, aur humre Top authorities/managment kuch nhi kar rhi hein, blockchain is the future, even all countries going in that,
    at least pakistan ko aapni koi exchange banani chahiye like india and others countries do that, underground to pakistan mein wese b sale and purchased ho rhi hy on many platforms per, than why not official, and earn from that exchange and dip in the world of blockchain…
    I REQUEST PROPAKISTANI STAFF!!! Kindly soi hui Qoom aur Hukumat ko ayeena dekhein k future kya hy aur dunia kis tarf ja rhi hy,,
    Sirf Kursi kursi ka kheel na kheeelo<<
    DO some for pakistan

    • Hahahahahaha Ulu ka patha, Mashwara apnay pas rakho Pakistan kay salay ho jo keh rahay ho k akhir ho kya raha ha BC. Apny kaam se kaam rakh

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