Bitcoin price: the inexplicable fall of cryptocurrencies continues

The sharp sell-off that characterized cryptocurrency markets on Wednesday extended to a second day, with major digital assets across the spectrum continuing to decline during Thursday's trading.

Wednesday's initial move did not seem to have a real catalyst, beyond 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.

The collapse was then exacerbated by a Business Insider report that Goldman Sachs has planned to launch a suspended bitcoin trading desk for the foreseeable future.

That news saw the bitcoin contain 4% less at around $ 7,000 per coin, before falling again late Wednesday evening. Since then it has remained relatively stable, but now has fallen more than $ 1,000 in just two trading sessions.

Of about 10.40 BST (5.40 ET), the bitcoin is trading at $ 6.340, a decrease of 5.4% from the start of the session.

The crypto slump has an impact on other currencies, with litecoin and bitcoin liquidity both lower by over 4%, while ethereum has lost 20% in value in the last 24 hours, falling to the lowest level in over a year.

In line with the last fall of ethereum, hundreds of alt coins on the coinmarketcap.com website have seen a decline of about 20% in the last 24 hours.

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