Bitcoin price took a quick blow, losing almost 10% of its value after recording a new high for the year only 14 hours earlier. Bitcoin is now trading at just around USD 5,060 after yesterday reaching USD 5,400, according to CoinDesk listing at time of writing.
After hitting the high at the peak of US trading hours, Bitcoin slipped to USD 5,290 in under an hour. By 4am GMT, during East Asian trading, Bitcoin had given up more ground to USD 5,150, before its week’s low now, 10.50am GMT. The rest of the cryptocurrency market has followed suit, with those in the top 10 all losing value. Litecoin has lost 10%, Ethereum 7% and Ripple 6% as the market capitalization collectively sits just below USD 90 billion.