The well-known and largest cryptocurrency by market cap, hit an intraday low of $11,531 early Friday — 43% below its peak of $19,843 hit on December 18, according to data from Coinmarketcap.
It was a very volatile and heavy morning for all major cryptocurrencies. The long waited correction happened, and is still happening.
Bitstamp exchange data
There were many bubble warnings in the previous weeks as the cryptocurrency hype touched new highs. Bitcoin has had several double-digit crashes in the previous years since its inception. In each of these past cases, the cryptocurrency recovered its value and skyrocketed to levels not seen before.
Now, everyone is asking themselves is this time it’s going to be the same.
All major cryptocurrencies, like Ethereum, Litecoin, Ripple, IOTA and others registered double digit tumbles.