The Bitcoin price (BTC/USD) has plunged below the $10,000 following a surprise sell-off that occurred on Wednesday afternoon.
The original cryptocurrency spent most of yesterday’s session trading sideways, with its price moving within a tight range. The digital coin enjoyed a brief period of positive price action in the afternoon, which allowed it to rise to an intraday high of $10,279.37. However, this was immediately followed by a sharp plunge that sent the BTC price deep below the $10,000 mark. The coin fell to as low as $9,716.66, before closing the session at $9,754.42.
Bitcoin has continued to decline, albeit much more gradually, during today’s morning session. Moving on a downward trajectory, the coin hit a one-month low of $9,423.67, according to data from digital currency tracker Coinmarketcap. While BTC has seen a slight pick-up in more recent trading it has remained at sub-$9,500 levels.
Yesterday’s plunge has taken the market by surprise, with investors and analysts unable to pinpoint a specific reason for the…