Bitcoin Shows A Steep Intraday Fall Of 7.8% To US$ 21,371, Ether Down 8.3%: See Why

The cryptocurrency market is showing a steep fall today. On August 19, till 6.09 pm UTC, Bitcoin fell by 7.8%, and was quoted at US$ 21,371, in the intra day trading. Yesterday, Bitcoin closed at US$ 23,189.40. In the last 5 days, Bitcoin fell by only 12.11%, and in the past 1 month, Bitcoin has been down by around 8.65%. Significantly, in the past 6 months, the asset fell by 46.77%.

Other major crypto coins are also sharply down today. Ether was quoted at US$ 1,692.12, down by 8.31%. Yesterday, Ether closed at US$ 1,845.57. Litecoin was quoted at US$ 54.95, down by 8.42%, Dogecoin was quoted at US$ 0.0699 down by 6.49%, and Cardano was quoted at US$ 0.4671 down by 8.67% today, till last traded. In a report, Coinglass mentioned that around $220 million cryptos were liquidated within an hour today, while Bitcoin was around half of it.

"Ethereum's upgrade, called the "merge," is slated to take place on Sept. 15 after numerous delays. The blockchain will change from a so-called proof-of-work system to a model called proof-of-stake," in a recent report CNBC informs. This is now increasing the volatility in the crypto markets.