Bitcoin value sheds $400 in 30 minutes

The future of Bitcoin seems unsure as the currency keeps losing value uncertainly.

After weeks of stability, volatility returned to Bitcoin today morning when it lost about 5% of value in just 30 minutes time. The drop, which accounted for more than $400, was one of the largest dips experienced since weeks. The other major coins including Ethereum and Ripple also took a hit as the slide continued. The data as available on coinmarketcap.com states that Ethereum was down by about 9% while Ripple was down by more than 10%.

The value of Bitcoin was hovering at about $6,535 before the 30-minute slide started. The value was down by 5.2% to $6,191 within next half an hour. The value of Ethereum, which had been hovering at about $220 was down to $206 and further plunged to $198. Ripple, on the other hand, was down to $0.402.

In some three hours, about $13 billion was wiped out from the entire cryptocurrency market. The Bitcoin is currently hovering at $6,157.71, Ethereum at $199 and XRP at $0.40.

Many cryptocurrency enthusiasts have been thinking that the year 2018 could possibly bring some good prospects to the world of cryptocurrency owing to certain regulation and standardization that had to go through the governments.

Graph — CoinDesk