Bitcoin continuous two weeks sold led to falling below $ 8,000 to its lowest level since mid-April.
The digital currency dropped 8.7% to a low of $ 7,512.43 .
All other large cryptocurrencies were also in red, despite high calls that prices would jump in a week of major blockchain events in New York City.
Fundstrat's analysts predicted Bitcoin would grow to 69% as a result of Blockchain Week, although BTC has fallen by about 13 percent since the conferences began.
Some analysts have pointed out regulatory news as the key driver of this week's sale.
On Monday, regulators in the United States and Canada announced widespread measures against some cryptocurrency investment schemes led by the Association of Securities Administrators in North America. More than 40 state and provincial observers participate in what is called the "Operation Crypto-Sweep," which has triggered at least 70 investigations so far.
The top 10 cryptocurrencies markets are also sold off significantly Wednesday. Etereum fell 13%, XRP 11%, bitcoin cash by 14%.