Bitcoin rate crashes to $ 3,750, pushing down all altcoins

Bitcoin price retreated below $4,000 for the first time this week to trade near $3,750 during Thursday’s early trading period.

The price of bitcoin, the world’s first and foremost cryptocurrency by market value, was trading at $4,036 (Bitstamp) at 07:00 UTC on Thursday before a precipitous fall leading to a drop of nearly $300 in under 30 minutes.

At press time, bitcoin price is trading at $3,782. The drop has also impacted a wider sell-off in the cryptocurrency market, wiping out nearly $10 billion in a 3-hour period.