Monitored by CoinNess App, as of 03:20 (UTC), the market value of Bitcoin is about $99.2 billion, which is the first time to drop below $100 billion since October 2017. The total market value of the cryptocurrencies decreased by $15 billion within 24 hours.
Does anyone know why?
It will seem that a lot of people are selling off their coins due to the clash with bitcoin cash and a lot of the hash power being moved to bitcoin cash, this makes bitcoin so much easier to mine and if it is that easy to mine then it is not as valuable as it was before. Also there is the issue of a lot of dumping happening when people see that the coins are going down