1/16/2018, 9:38 AM (Source: TeleTrader)
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Cryptocurrencies in the red, as Bitcoin mining slows down

World's most popular cryptocurrency, Bitcoin, saw a correction on Tuesday, decreasing below the $12,000 mark. Other cryptocurrencies also traded in the red, with Bitcoin Cash dipping below $2,000, Ethereum approaching the $1,000 mark and Litecoin nudging down, to go under the $200 mark.

The corrections come in the wake of reports of China's government plans to shut down miners and fix on shutting down websites offering exchange-like services. Crypto insiders have also received the news on 80% of all Bitcoins being already mined, leaving the total amount of the digital currency in circulation currently at around 16.8 million.

Bitcoin fell 14.55% to go for $11,662 at 9:34 am CET, while Bitcoin Cash decreased 20.58% against the US dollar to go for 1,894 at the same time. Ethereum was 18.73% in the red at 9:35 am CET, trading for $1,037. Finally, Litecoin, which recovered in the first week of the year, stood 17.77% lower at $189.90 at 9:36 am CET.

Breaking the News / BM