Home Bitcoin News Bitcoin notches two-month low within the wake of cryptocurrency alternate hack

Bitcoin notches two-month low within the wake of cryptocurrency alternate hack

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Bitcoin eased additional on Wednesday following its initial drop after the weekend announcement that South Korean cryptocurrency alternate had been hacked.

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Different main cryptocurrencies additionally weakened markedly.

Bitcoin traded as little as $6,455.91 early on Wednesday Asia time, its lowest stage since April. Bitcoin pared a few of these losses to commerce round $6,550.76 by 11:40 a.m. HK/SIN, in line with CoinDesk.

Bitcoin had fallen around 10 percent over the weekend following information that South Korean alternate Coinrail had been hacked, with a lot of lesser-known cryptocurrencies corresponding to Pundi X counting amongst these affected. Bitcoin, nevertheless, was not talked about by the alternate in its statements, in line with Google translate.

During the last 24 hours, bitcoin has seen a dip of greater than four %, in line with CoinMarketCap. Up to now in 2018, the cryptocurrency is down greater than 50 %.

Chart analysts have indicated that bitcoin’s transfer beneath the $7,000 mark steered a speedy restoration was unlikely.

As for different crypto belongings, the final day has confirmed difficult.

Ethereum, the second-largest cryptocurrency by market capitalization, was down nearly 6 % within the final 24 hours, CoinMarketCap information confirmed. Ethereum stood at $499.54 at 11:40 a.m. HK/SIN, in line with CoinDesk.

Ripple was additionally decrease by almost 6 % within the final 24 hours, in line with CoinMarketCap. It traded at 56 cents at 12:15 p.m. HK/SIN.

— CNBC’s Evelyn Cheng contributed to this report.

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