btc wires

Further Slump in Bitcoin’s Price

Bitcoin has continued to lose its value after the initial downfall of about 10% at the weekend. The weekend slump was caused due to the announcement that the South Korean Crypto exchange, Coinrail, had been been hacked.

Apart from Bitcoin, some other cryptocurrencies too saw a slump. Bitcoin was being traded at $6455.91, early on Wednesday, the lowest it ever traded since April.

Bitcoin was down by almost 10% over the weekend, following the hack of Coinrail, a South Korean digital currency exchange. Other currencies that were affected by the hack were Pundi X, one of the most traded crypto on the exchange. However, Bitcoin was not mentioned in the statement made by the the exchange, as per the reports by Google Translate.

The hacking wiped out over $40 billion worth of market value from the digital assets market. Even after its revival on Monday, it has again continued its downtrend since then. Bitcoin declined by around $1000.

Bitcoin has seen a dip of more than 4%. As for other crypto assets, Ethereum stood at $499.54, almost down by 6% over the past 24 hours. Ripple, too was down by 6%, and was traded at 56 cents.