$17 Billion Deleted From Cryptocurrency Market in 24 Hours as Ethereum Falls 7%

Within 24 hours $17 billion wiped out from crypto market and as a result a huge down fall in major crypto currencies like Btc, Ethereum, Litecoin, Stellar, and Cardano.

Right now the crypto market is still in bearish cycle. In this mid-year, the market seemed much more stable than previous two months.

Unexpected from bithumb hacking attack and South Korea’s one of largest cryptocurrency exchange, terminated the corrective rally of the market and led to a short-term decline.

In a report, Bithumb confirmed $30 million was stolen from its wallet and has started to co-operate with the KISA (Korea Internet and Security Agency), a sub organization of the Ministry of Science, to minimize its losses.

After that incident on June 20, Bithumb quickly followed the procedure to immediately report. The incident to KISA announcing that about 35 billion Korean Won worth amount of cryptocurrency was stolen.

Ethereum got the biggest loss amongst all major crypto currencies along with EOS. RSI (relative strength index) indicates at 40.5 and MACD giving a short-buy signal.

In this downtrend, Ethereum can go $400 region from the current price of Ethereum at $481.