Cryptocurrencies such as Bitcoin and Ethereum showed a sharp decline of around 10% on the 19th (local time).
According to CoinDesk, a media specializing in virtual currency, as of 11:40 a.m. eastern time on the same day (0:40 Korean time on the 20th of the 20th), the price of bitcoin per coin is $21,333.16, a drop of 9.08% from 24 hours ago, according to CoinDesk. (28.5 million won) was recorded.
It is the first time this month that Bitcoin has fallen below $22,000.
Bitcoin soared to $25,200 just four days ago, on the 15th alone, and surpassed $25,000 for the first time in two months since mid-June.
However, following that, it slowed down, and on that day it plummeted to around 10%.
The situation is the same for Ethereum, which is the second largest by market capitalization following Bitcoin.
At the same time, Ethereum fell 9.82% to $1,690.82 (2257,000 won), down 9.82% from the previous day, and fell below $1,700.
Ethereum rose 56% last month alone ahead of next month’s system upgrade, and recently surpassed $1,900.
The cause of the cryptocurrency’s plunge today is unknown.
However, the possibility of a large-scale sale was raised.
“The cryptocurrency did not rebound immediately following a sharp plunge, but sank lower for several hours,” said Susanna Streeter, senior market analyst at Lancedown Securities firm Hargreaves.
“In the absence of other external factors, it is highly likely that the decline is due to a large-scale sale transaction.”
The New York Stock Exchange also fell.
The Dow was down 0.7% and the S&P was down around 1%.
In particular, the Nasdaq Index, centered on technology stocks, which is highly linked to cryptocurrency fluctuations, is showing a sharp decline of close to 2%.
/yunhap news