Bitcoin price crisis: Cryptocurrencies plunge – Ethereum and Doge suffer huge losses


The price of Bitcoin has plummeted from $38,852 at 00.20am to $36,623 at 7.45am.

Ethereum has crashed by 7.5 percent from $2,755 to $2,556 over the same time period.

Dogecoin has plunged even further, this time by eight percent from $0.344 to $0.317.

Naeem Aslam, chief market analyst at Avatrade, warned of further falls to Bitcoin’s value throughout Friday after dropping below the $40,000 price level.

He said: “In the crypto currency space, the crypto king isn’t showing much strength as well and it is very much clear that we are likely to see more downward moves for the Bitcoin today.

“The primary reason for this is that the price has rejected the 200-day SMA on the daily frame, and it has failed to stay above the 40K price level.”

Litecoin – billed as a lighter and faster version of Bitcoin – dipped three percent to $183 and is nine percent its value from a week ago.

Enjin Coin (ENJ) has seen the biggest fall over the last 24 houtrs, plunging 16 percent after surging 44 percent to $1.93 in the previous 24-hour period.

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