Bitcoin and most altcoins crashed late Tuesday/early Wednesday after news emerged that major exchange Bitfinex got hacked. Initially prices dipped by only $50 dollars, from around $601 to $551 dollars per coin on Fxopen. But when the scope of the hack got revealed (120k bitcoins), prices crashed almost $100 extra to a hit a low of $469 dollars before recovering. After a sizable retracement we are currently quoted at $564 dollars per coin. Let’s go over our two altcoins (PPC/NMC) then we’ll get back to bitcoin.
Peercoin Enters a New Downtrend
Peercoin entered a new downtrend after a break of $0.355 dollars on Tuesday. Similarly to bitcoin we saw a ‘flash crash’ to a low of $0.297 dollars followed by a recovery to $0.345 dollars right now.
Read More https://blog.fxopen.com/bitcoin-altcoins-crash-on-exchange-hack/