Bitcoin lost $200 and showed a two-week low

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Bitcoin lost $200 and showed a two-week low

After nearly two weeks of stalemate in the neighborhood of $6400 bitcoin suddenly dropped out of its trading range.

29 October near 00:00 GMT (15:00 Moscow time) the largest cryptocurrency has lost almost $200, reaching a two-week low at $6243.

In the last 14 days of the bitcoin were kept in the range of $6590— 6403 and showed minimal volatility from April 2017.

A few unexpected decline of bitcoin has shown that the cryptocurrency is still correlated with the stock markets (which, according to the Guardian, went through the worst month since the financial crisis of 2008), albeit belatedly.

Altcoins in the last few hours is also reduced, which is what happens most often, when bitcoin shows weakness. So, ether, XRP and Bitcoin Cash in the last 24 hours has lost more than 3%. The worst dynamics in the top 10 by market capitalization observed in litecoin — it fell more than 5%.

According to CoinMarketCap, at the time of writing the post total market capitalization of cryptocurrencies in the last 24 hours has declined by about 3% and is currently less than $204 billion.

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