Almost all stocks are in RED as the stock market crashes as DOW Jones also drops 800 points, which is the lowest in the last 8 months. The sharp sell-off was even greater at the Nasdaq exchange, home to Apple, Amazon, and others. The Nasdaq fell over 4%. Wednesday marked the fifth consecutive daily decline for the S&P 500, the longest losing streak since November 2016.
Japan, South Korea & Asia Panic
According to the speculations, the stock markets have crashed decently due to panic in South Korea, Japan & Asia. This panic can also be seen shifting to Cryptocurrency markets as major investors in South Korea and Japan have panicked, and clearly brought in the same sentiment to Bitcoin & other cryptocurrencies.
Cryptocurrency Crash – the right time to buy in?
Coinmarketcap charts demonstrate a sharp and sudden sell-off in crypto markets happening at around 18:00 UTC on October 10. At 18:09, the price of bitcoin was sitting at $6,562.28, or, in other words, it had spent the majority of the day. Not as much as after an hour, at 18:54, bitcoin had dove roughly 5% to $6,314.62.
Different cryptocurrencies were hit with price drops around a similar time, albeit most altcoins experienced altogether more awful drops.
ETH dropped 9%, for instance, and XRP dropped 11.25%. Bitcoin Cash dropped 10.85%, EOS lost 7.57%, and Stellar lost 8.85%.
As we go to press, just six digital currencies in the main 100 have picked up over the most recent 24 hours. Aeternity has increased 8.42% throughout the most recent 24 hours, for instance, and right now sits in the #31 position by market top by and large.
It appears to be improbable that the harm will be constrained to Wednesday – in any event in customary money related markets.
Is it right time to buy into Bitcoin and other cryptocurrencies? Give your opinion in the comments section below.