Witnessing its worst fall of 2018, Cryptocurrency reported a loss of $700 billion on Friday. Since November, Crypto Index has declined from 16 to 23 percent. This is the worst slip reported by Cryptocurrencies since crypto-mania peaked in early January.
According to the reports, Bitcoin slipped to $4,000 and its other peers also dropped significantly on Friday.
After garnering massive popularity in January, cryptocurrencies have dropped to nearly $700 billion. This has raised several concerns pertaining to the virtual currencies and its existence.
However, despite the loss, Oanda Corp.’s Stephen Innes is yet to see strong evidence pertaining to the surrender of Cryptocurrencies, hitting a market bottom.
“There’s still a lot of people in this game,” Innes, head of trading for Asia Pacific at Oanda. If Bitcoin “collapses, if we start to see a run down toward $3,000, this thing is going to be a monster. People will be running for the exits.”