Breaking News: Traders in Commotion as Bitcoin dips below $6,000 Mark for the Second Time in 2018

Breaking News: Traders in Commotion as Bitcoin dips below $6,000 Mark for the Second Time in 2018

The bearish market has left traders in absolute shock as the world’s largest cryptocurrency, Bitcoin has been dragged beneath its shoulders, leaving the entire crypto community in a total frenzy. For the second time in the year 2018, Bitcoin has lost its propulsion and has fallen below the $6,000 mark to sit unsteadily at a trading price of $5,798.

The market has been experiencing severe losses since the week began. As of yesterday, only 18 tokens closed with slight gains which were eventually lost after a span of 24hrs, but things have escalated to an even more alarming state as the big bull suffered an intense blow today and decline by over 9.03%. Bitcoin opened at $6,337 as of yesterday, leveled at 6395.27 for a very short period and declined to 6342.67, the big bull later closed at 6359.49.

Breaking News: Traders in Commotion as Bitcoin dips below $6,000 Mark for the Second Time in 2018

Market capitalization in the last 24hrs which was up to $110 billion has now drastically dropped to $100 billion. On October 15th, Bitcoin was close to losing its grip on the $6,000 level when it opened at a trading price of $6,292 and fell even further to trade at $6,258. The token was quick to make a swift comeback on the same day and moved up to $6,500, a trading price that later surged to reach a daily all-time high of $6,673 the next day.

Bitcoin experienced its first all-time low for the year back on February 6th when the token’s price dipped at $5,947 and further drowned to $5,937 in June.

Bitcoiner’s had been certain that the bearish market will never pull Bitcoin as far down as it did in February 2018, until today of course. However, a few traders seemed to have accepted the return of the bearish market. When crypto trader Willy Woo conducted a Twitter poll earlier, 40% of traders agreed that the bearish market is intensifying, while 30% believed Bitcoin had bottom down.

Ethereum as expected, have also followed suit by shedding a sizeable 11.70% with its trading price stumbling from $207 to $183.

As of this writing, only four tokens are recording slight gains, including Paxos standard token (PAX) which is soon to be listed on Binance Uganda.

The post Breaking News: Traders in Commotion as Bitcoin dips below $6,000 Mark for the Second Time in 2018 appeared first on ZyCrypto.

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