Cryptocurrencies continued their epic slide with a fresh bout of losses.
Source: www.nzherald.co.nz
On Friday, December 7th the largest cryptocurrency Bitcoin hit its lowest level in 2018. The currency sell-off led to a decline of over 11% hitting a low of ~$3,412. Amid the crypto sell-off, smaller rivals such as Ether, Litecoin and XRP were hit even harder. The Bloomberg Galaxy Crypto Index sank as much as 12%. Such declines are indicative of traders moving money out of Bitcoin and into dollars. Bitcoin’s market cap has declined close to 85% from its peak of $20,000 in December 2017.
