The news on the negative numbers that are taking over the cryptocurrency market continues. Today the most popular and well-known currency in the game, Bitcoin, has officially dropped below 10K. Other currencies such as Ethereum, Ripple, Bitcoin Cash, Cardano, and Litecoin also saw a significant loss of value around 30 to 40 percent.
When we last posted on the dramatic decline in the market, Coin Market Cap showed that Tether was the only currency whose value was still in the green. As of right now, the trusted site shows that Tether has lost value and the only currency not in the negatives is SmartCash.
“There is a lot of panic in the market. People are selling to try and get the hell out of there,” Charles Hayter, founder of Cryptocompare tells Fortune. “You have more regulatory uncertainty…and because of these falls you have these other outfalls." The publication notes that officials are set to discuss the rise of Bitcoin at the upcoming G20 summit in March.
There's no evident reason why the market has once again seen a large loss of value. Things make more sense as South Korea, Japan and China are beginning to clamp down on the ability to exchange cryptocurrency while France and the United States have vowed to investigate, with concerns on how to regulate the market