Bitcoin price: Cryptocurrencies tank in global market sell-off

Markets Insider

• Cryptocurrencies across the board are nursing big losses on
  Thursday as the global market sell-off hitting traditional assets
  spreads.
• All major crypto assets are down on Thursday, with the likes
  of ethereum and bitcoin cash losing more than 10% of their value.
• Bitcoin plunged more than 7% overnight, but has now recovered
  a little, and is trading down roughly 5%.
• 
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  follow all the latest cryptocurrency prices at Markets
  Insider.
  

Cryptocurrencies across the board are nursing big losses on
Thursday as
the global market sell-off hitting traditional assets
spreads.

Bitcoin, the benchmark cryptocurrency, dropped suddenly and
sharply in Asian trading overnight, losing as much as 7%, before
rebounding a little.

It is now holding at a loss of around 5% on the day, trading at
$6,266 per coin.

While bitcoin has led the way lower on Thursday, other major
cryptocurrencies including Ether, Ripple, and bitcoin cash have
witnessed even larger falls. Here’s the scoreboard:

Previously, bitcoin and other cryptocurrencies tended to rally
during periods of poor performance for traditional assets like
stocks, reflecting their status as something of a haven. However,
in recent months that has flipped, with cryptocurrencies tending
to follow traditional stock markets in their moves.