10 Percent Decrease Of Bitcoin After Cryptocurrency Exchange Hack

Bitcoin lost its position on Wednesday after its primary drop following the weekend announcement that South Korean cryptocurrency exchange had been hacked.

The rest of the major cryptocurrencies also lost their positions noticeably.

As a result  Bitcoin traded as low as $6,455.91 early on Wednesday Asia time, its minimal level since April. Bitcoin cut off some of those losses to exchange about $6,550.76 by 11:40 a.m. HK/SIN.

Bitcoin, with a number of little-known cryptocurrencies such as Pundi X, had dropped approximately 10 percent for the weekend after the news that South Korean exchange Coinrail had been hacked. As per Google translate Bitcoin, nevertheless, was not indicated by the exchange in its reports.

According to CoinMarketCap for the last 24 hours, bitcoin has met a failure of more than 4 percent.  Yet in 2018, the cryptocurrency is decreased more than 50 percent.

Chart analysts have mentioned that bitcoin’s push below the $7,000 sign intended that there can not be fast recovery.

CoinMarketCap data revealed that  Ethereum, the second-largest cryptocurrency by market capitalization, was decreased almost 6 percent in the last 24 hours. Ethereum stood at $499.54 at 11:40 a.m. HK/SIN.

Ripple was also lower by nearly 6 percent in the last 24 hours, according to CoinMarketCap. It traded at 56 cents at 12:15 p.m. HK/SIN.