Bitcoin and several other large cryptocurrencies decreased in the early morning.
Based on data from CoinDesk, the value of Bitcoin (BTC) fell more than 17% to the price of USD 13,077 in less than 12 hours, or decreased by about USD 2,000 from its initial price at USD 15,830. However, in the end Bitcoin had increased to USD 14,039, as of this writing.
CoinDesk itself tracks the Bitcoin price index from various platforms, such as Bitstamp, Coinbase, itBit, and Bitfinex.
Not only Bitcoin, other digital currencies such as Bitcoin Cash (BCH), Ethereum (ETH), and Litecoin (LTC) also decreased over the same period.
According to data compiled by CoinMarketCap, the value of Bitcoin Cash plummeted 26.9% to USD 2,660, Ethereum fell 17.3% to USD 719, while Litecoin fell 16% to USD 277.
Despite the decline, the third largest of the cryptocurrency Ripple (XRP) is still showing a positive trend if we look at its gain increase since the beginning of the year.
Ethereum still shows an increase of more than 9,000% this year, while Litecoin posted 6,500% growth over the same period.
Bitcoin Cash, with a narrower time as it just broke away from Bitcoin on August 1, successfully increased its value by more than 600%.
It is still not known exactly why the big names have decreased in the same period.
Interestingly, in the midst of the free fall trend of most of the big cryptocurrency, Ripple’s name is actually sticking out as the only major digital currency whose value is increasing today.
Ripple had recorded a record high at USD 1.38, before finally weakening at USD 1.21. Its own market value is now equivalent to USD 47 Billion, only to lose to Bitcoin and Ethereum.
Based on the data shown on the official website, for this year, Ripple’s own value has skyrocketed up to 19,500%.