Bitcoin (BTC) Crash! Price Plummets to One-Year Low as Cryptocurrency Market Sees Red12.75

Bitcoin (BTC) fell by more than 11 percent on Wednesday to reach its lowest level since October 2017. This sudden fall comes after months of contracting volatility leading to a prolonged period of sideways trading and stability. Presently, numerous theories are circulating as to why the top-ranked cryptocurrency has taken such a nosedive.

Looking at the chart below, one can easily make out the massive “death candle” that took the price of Bitcoin all the way down to $5,600. This is the second time that the top-ranked cryptocurrency has fallen below the psychological $6,000 price mark. BTC is now at its lowest point in over a year.

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