The price of cryptocurrency No. 1 dropped to the lowest level in a year on November 19. At some exchanges, losses exceeded 6%. As a result, Bitcoin was traded below $5,300.
The price of the most popular digital currency decreased by 5.2% to $5,300. At a number of cryptocurrency exchanges, the cost of Bitcoin plunged 6.43% to $5,280.
Other popular virtual currencies also suffered losses: Ethereum dropped by 11.31% to $155.99, the Ripple cryptocurrency declined by 7.09% to $0.474, while Bitcoin Cash lost 4.77% and amounted to $363.25. Currently, the cryptocurrency market capitalization is $173.4 billion. Bitcoin accounts for about 53.5% of the total market.
Some experts have recorded a decline in popularity of digital assets, which entails a decrease in demand for the products of companies that produce equipment for cryptocurrency mining. The recent hard fork of Bitcoin Cash has been another reason for the sharp fall in the value of virtual currencies. As a result, the single digital token has been divided into Bitcoin ABC and Bitcoin SV. Experts remind that hard forks usually lead to destabilization of the cryptocurrency market and fierce competition between supporters of the old branch of any digital currency and that of the new one.
