Bitcoin and Ethereum hit by massive decline, Other cryptocurrencies dropped even worse

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Most major digital currencies sold off sharply on Tuesday, but the declines in bitcoin, ethereum and litecoin prices weren’t as bad as much of the rest of the market.  Bitcoin was down 17 percent at that time, ethereum was down 19 percent and litecoin was down 19 percent, according to the same site.

The declines followed speculation in the market about what regulators in Asia may be planning for digital tokens. On Monday, a report from Bloomberg, citing unnamed sources, said Beijing plans to block domestic access to Chinese and offshore cryptocurrency platforms that allow centralized trading.

All of the top 20 digital currencies — by market value — suffered double digit losses over the last 24 hours, according to data from industry website CoinMarketCap. Ripple was down 26 percent, bitcoin cash was down 24 percent, iota was down 27 percent and monero was down 22 percent as of 8:51 a.m. HK/SIN.

In fact, at their low point on the day, many cryptocurrencies with large market caps saw their prices essentially halved.

More on the decline

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