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Bitcoin Price SLUMPS 12% , Price Dropped below $10,000 Mark

Bitcoin dropped Tuesday as the 20 largest digital currencies by market capitalization all declined, according to CoinMarketCap.

Bitcoin traded 12 percent lower near $9,817, according to CoinDesk’s bitcoin price index, which tracks prices from digital currency exchanges Bitstamp, Coinbase, itBit, and Bitfinex.

Other cryptocurrencies have taken a hit today as well.

According to information from sites like CoinMarketCap and OnChainFX, the prices of all of the top-10 cryptocurrencies by market capitalization (which is the spot price of the token multiplied by the total amount of tokens in circulation) have fallen in the past 24 hours. These include NEM, EOS and Cardano, per info from CMC, all of which have shed at least 10% in value since yesterday.

The price of NEM’s XEM token has been particularly hard-hit today, coming in the wake of a dramatic $500 million hack from Japanese cryptocurrency exchange Coincheck. A new report from Reuters published today indicates that some of the XEM tokens stolen are being sent to exchanges in order to be sold.

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