Market loses $10 billion in a few hours, Bitcoin on its way down to $6000

22 Jun, 2018
by Jelmer van der Dussen
News
Market loses $10 billion in a few hours, Bitcoin on its way down to $6000

Bitcoin is on its way down heading for $6000 following the news from Japan that six exchanges have received a business improvement order from the Japan Financial Services Agency. Over the last 24 hours, Bitcoin lost 8% of its value and currently it's trading at $6190.

Market cap: $10 billion lost in a few hours
Before the news from Japan the market was on its way down already, but the announcement gave another push into the wrong direction. In the last few hours the total market cap lost another $10 billion, following an earlier drop of $20 billion. The total crypto market is now worth $260 billion.

Top 10: EOS down 16%
With Bitcoin down 8%, the rest of the top 10 coins have seen even steeper drops. Ethereum is down 10%, trading under $500, while Litecoin is back at $85, losing almost 12% of its value. EOS takes the hardest hit and is 16% in red, trading at $8,78.

Worst and best performers
The two worst performers in the market are Cybermiles (21% down) and Elastos (over 19% down). Most other coins in the top 100 have seen a drop of 10-17% so far. Two projects are in the green today: Funfair, up 3%, and Game.com, that is up 40%.

The current decline is in line with the last month, where the crypto market went from a market cap of $373 billion to $260 billion.

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