Bitcoin Drops Below 7,000 USD

February the 5th didn’t bring anything good for bitcoin. 7,000USD for one coin, this is the lowest price since November 2017. A drop was expected, but nobody could forecast that it will be so significant. During just 30 days, bitcoin lost 60% of market capitalization.
Other altcoins aren’t in a better condition. Ethereum has lost 11% of its value within the last 24 hours, Bitcoin Cash and NEO have dropped for 16 and 17% respectively.
Though, the recent drop has its reasons: China completely blocked and banned all cryptocurrencies on its territory, and this country was representing the biggest market for the altcoins.

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