For the first time since November 2017, Bitcoin is valued below $10,000. It was traded at $9,199.59 at 09.04 pm (IST) today after a 19% drop in last 24 hours.
In December 2017, Bitcoin saw a record high of $19,343 and has been experiencing a gradual decline. It is now down by 52% from its all-time high. More than $30 billion has been shaved off its market value in 24 hours.
Meanwhile, Ethereum has been trading at almost 29% lower at $791.97 a coin and Ripple fell by 34% to about 91 cents.
The sharp decline seen is a result of South Korea's Finance Minister's statement signaling a possible ban in the country and China's cryptocurrency crackdown. Fear of 'Bitcoin Bubble' has been sweeping the cryptocurrency market.