The bitcoin price has plunged by nearly 10% on Wednesday to fall near a 5-month low. After flirting with a move to the upside above $8,000, the leading cryptocurrency dropped sharply below to just under $7,500. Other major-cap cryptocurrencies also followed Bitcoin’s spiraling crash by falling between 4% and 9% in value. The most adversely affected were the Bitcoin variants – BCH and BSV.
Bitcoin trading near the ~$7,500 figure marks a low last recorded in June. Since the yearly high also registered in June, the crypto asset has now lost about 45% of its value. It has however nearly doubled in value since the start of the year.