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Cryptocurrency prices suddenly collapsed abruptly on Wednesday morning, apparently without clear justification.
Having remained constant at around $ 7,350 per coin during most of the trades during Asian and European morning hours, the bitcoin has lost more than $ 200 in minutes from around 5:50 and about, or from 10: 50 to the BST. It took another leg less than an hour later, dropping below the psychologically significant $ 7,000 mark.
At noon in London, or 7:00 ET, the largest market value for encryption was trading at $ 6.984 per coin, with a decline of 5.1% on the day.
Bitcoin was the most obvious victim of sudden abrupt fall, but other large cryptocurrencies, including the ether, the Ripple XRP and the bitcoin money have declined even further. Here is the scoreboard:
Although the cause of the fall is not clear, a theory advanced by Tanya Abrosimova of FXStreet is that the introduction of a registration process for the popular instant bitcoin exchange ShapeShift may have frightened some users and triggered at least a part of dropping.
In addition, a Business Insider report on Wednesday indicated that Goldman Sachs had set aside short-term plans for the launch of a bitcoin trading counter.
Wednesday's sales come after several days of strong earnings for cryptocurrencies, despite the recent refusal by the US Securities and Exchange Commission of several funds traded on the stock exchange with bitcoins.
