Bitcoin drops below $7,000 as other major coins continue to struggle.

Bitcoin's volatility continues to surprise investors as the price of the leading cryptocurrency once again fell below $7,000 mark. The price also dropped below $7,000 in November.

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Last month the price of bitcoin reached a six-month low after it traded below $7,000 mark. Now once again, the price has slumped below $7,000. Ripple’s XRP also saw a significant fall in its price as it traded below $0.2000.

 

Bitcoin lost 3.4% of its value in just 8 hours.

Bitcoin fell 3.4% in the space of 8 hours as it dropped from $7,092 to $6,852. Earlier in November, bitcoin reached $6,500, which was the lowest it got since May. Currently, the support line for the leading cryptocurrency is $6,500, and if it breaks below that, we can expect the price to go below much further. The dip in the price was accompanied by a substantial increase in volume, with 24-hour volume up 9.7% at $19.2 billion. At the time of writing bitcoin is changing hands at just above $6,780.

 

XRP falls below $0.2000

Currently, XRP is trading at $0.199021. On Monday, the price of the third-largest cryptocurrency slumped down to $0.19261, almost 11% down. It was the largest intraday hit since September 24. Ripple’s XRP traded in a range of $0.1917 to $0.2236 in the past seven days. Ethereum is also trading down 7% at $131.

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Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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