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8/14/2018, 7:50 AM (Source: TeleTrader)
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Cryptocurrencies in the red, Bitcoin falls below $6,000

Cryptocurrencies market traded in the red on Tuesday led by the fall of main digital currencies such as Bitcoin and Ethereum. The world's most widespread crypto money Bitcoin traded below an important technical level of $6,000 while its spinoff Bitcoin Cash fell below $500. The total market capitalization in the digital currencies plunged to $190 billion amid corrections.

Meanwhile, market watchers continued to anticipate the United States' approval of proposed exchange-traded funds that will be based on Bitcoin. However, investors have been growing increasingly worries that entrepreneurs that previously invested in the crypto market are starting to cash out. China's Bitmain, the world's largest crypto-mining company is considering an IPO in a value of $40 billion in its bid to cash out of Bitcoin and enter the market of advanced technology alongside Google.

Bitcoin lost 4.20%, changing hands for $5,988.30 at 7:47 am CET while Bitcoin Cash dropped 7.12% to go for $493.40 at the same time. In the meantime, the world's second-largest digital currency by market cap Ethereum declined 5.75%, selling for $267.38 at 7:48 am CET.

Breaking the News / VK