Cryptocurrency Markets Slump Midweek as Ethereum Hits New 2018 Lows

[CebuBitcoin]

Cryptocurrency markets are feeling the pressure from an extended downturn on Wednesday, September 12, with Bitcoin (BTC) losing 2.5 percent and Ethereum (ETH) hitting its lowest levels since May 2017.

Data from Cointelegraph’s price tracker and Coin360 confirms the lackluster picture across cryptoassets continuing another day, with all of the top twenty coins — with the exception of Dogecoin (DOGE) — in the red.
Bitcoin had climbed to almost $7,400 last week before turmoil hit markets again, prices tumbling over claims Goldman Sachs had shelved its crypto trading plans, something officials have since dismissed as “fake news.”

Regulatory pressure also continues, with U.S. authorities ordering a ten-day halt of two exchange-traded notes (ETNs) over the weekend.

The combined effect has meant BTC/USD was tending towards $6,200 at press time, support nonetheless holding at around $6,251 to prevent a deeper slide below the $6,000 barrier.

Readmore: https://cointelegraph.com/news/cryptocurrency-markets-slump-midweek-as-ethereum-hits-new-2018-lows