Just in 30 minutes the price of bitcoin went down 4.77 percent. Where bitcoin was steady trading around the $6500 level, it dropped $400 in value. Now it slightly recovered to a level just above $6200. This has been the lowest trading level since September 19th.
Other cryptocurrencies also suffered major losses. Ethereum and Bitcoin Cash saw a drop over 10 percent, while Ripple even noted a 12 percent decrease in value. Overall the cryptocurrency market cap lost 13.1 billion dollars in value.
The drop in value of the crypto markets seems to be tied with the traditional exchanges. Asian and American exchanges saw a drop between 3 and 6 percent.