Since Sunday the 10th Jan, the values of Bitcoin, Ethereum, Litecoin etc. have dropped massively. In fact the entire crypto industry came to at its lowest. By far 10th January is going to be remembered as the worst day of 2021 with regard to crypto assets.
Until the end of Saturday, 9th January, 2021, things were going as they should be regarding crypto currencies. Bitcoin was riding the Bull-Run so as Ethereum, Litecoin, Bitcoin Cash and other crypto assets. However, the entire crypto industry as a whole took a nose dive on Sunday 10th January, Resultantly the values of every crypto asset went low enormously which the industry hadn’t seen since long ago.
When the drop occurred, the first victim was Bitcoin whose value dropped for about US$ 9,000 and it went low as US$ 30,000. Thereafter, the other prominent victims of the drop were Ethereum, Litecoin and Bitcoin Cash. Surprisingly, both Ethereum and Bitcoin Cash somehow sustained the impacts of low and remained on the higher side. But after few hours of Bitcoin’s drop, they too could not succumb the impact and went low considerably.
By Monday, 11th January, the entire industry recorded a global low of 15 to 35%. Bitcoin saw a massive low wherein it lost the value for about 20 to 25%. The Bitcoin fall came soon after it had set up newest ATH record when it reached US$ 41,056. As of today, Bitcoin managed to retreat and is currently being traded on for US$ 35,000 plus range.
Second in line was Ethereum who lost 27% of its value on Sunday. Ethereum too had recorded the highest price for 2021 when it earned the value of US$ 1,300 plus. However, the drop adversely affected ETH and sent it low as US$ 932 and is currently hovering around US$ 1,000 range.
At third was XRP, who had already been facing difficult time with Securities & Exchange Commission of the US. Since the US Regulator had lodged a claim against Ripple’s XRP, its value continues to drop gradually. However, on Sunday as well, value of XRP came down to approximately 15%.
Similar situation was recorded with all other currencies. For instance Bitcoin Cash dropped for 30% which was otherwise gaining values since September 2020. For the time being the crypto industry looks stable and most of the digital coins are retreating back.