Skip to content
Subscriber Only

Crypto Crash Prompts Guessing Game as Bitcoin Breaches $10,000 Again

  • Peer coins also sell off, with Litecoin down as much as 11%
  • ‘Half of crypto is at Burning Man’: investors react to plunge
Crypto Exchanges Are Facing Their Biggest Regulatory Hurdle Yet
Photographer: Michael Short/Bloomberg

Cryptocurrencies plunged suddenly in afternoon trading on Wednesday, spurring a guessing game of potential catalyst among enthusiasts and investors. The price of Bitcoin dropped below $10,000 for the first time since July.

The largest digital token fell as much as 5.6%, before trading at $9,686 as of 3:40 p.m. in New York. Peer coins also sold off, with Bitcoin Cash falling close to 4% and Litecoin dropping about 8%.