Bitcoin Sinks And Approaches $30,000

The second-largest cryptocurrency, ethereum, lost 11.2 percent of its value, falling to $2,361.

The price of bitcoin fell sharply on Tuesday, approaching a symbolic $30,000 threshold it has not crossed since January and dragging other cryptocurrencies in its wake. At around 15:45 GMT, bitcoin fell 8.6 percent to a value of $31,501, a level not seen since mid-May, when the volatile cryptocurrency temporarily lost 30 percent in one session. The second-largest cryptocurrency, ethereum, lost 11.2 percent of its value, falling to $2,361. "Numbers that should be staggering for a single day's performance are no longer a shock to those of us invested in the crypto universe," Hugh Shields, an analyst at SpreadEx.com said, calling the market an "anomaly".