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Why did Bitcoin and other Cryptocurrency Falling?

Why did Bitcoin and other Cryptocurrency Falling

The Bitcoin rate fell 10 percent after the announcement of the breaking of the South Korean stock exchange Cointrail. At a minimum, the coin was trading at $6,647 - the lowest value since April 9, CNBC reports.

When Bitcoin's course grows

The Cointrail administration announced a break-in late on Sunday, June 10th. According to the calculations of the company, hackers managed to withdraw $40 million in tokens of different ICO-projects. Among them - NPXS (19.5 million dollars), Aston X (13.8 million dollars), Dent (5.8 million dollars) and Tron (1.1 million dollars).

Until now, Cointrail held the penultimate line in the ranking of one hundred of the world's largest exchanges. After the break-in, it turned out that many of her coins were kept on her purses. According to the owners of the trading platform and Bitcoin Faucets, 40 million dollars - only 3 percent of the funds that users store on the exchange.

As the newspaper notes, speeches about Bitcoin in the Exchange statement did not go, but after a few minutes the first crypto currency fell to a two-month low. Perhaps the reason was the manipulation of the coin's price, journalists added.

Following Bitcoin, other coins fell as well - the Ethereum rate fell to 514 dollars, and Litecoin - 11 percent, to 104 dollars.

If the forecasts of experts and review websites are correct, in the near future to count on the growth of Bitcoin is not worth it. Yesterday, Coindesk analysts said that if the coin falls below $7,000, there is a high probability that the peak will continue and the first crypto currency will fall to $6,000.


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