Bitcoin Resilient In The Face Of Exchange Raid Fall-Out
Charles Bovaird , CONTRIBUTOR
I am a financial writer and consultant who focuses on investments.
Bitcoin has held more of its value than other top cryptos. Shutterstock
As the broader cryptocurrency markets have been cratering, Bitcoin has managed to retain much of its value.
These widespread declines have taken place after it was reported that South Korean authorities raided UPbit, the nation's largest digital currency exchange.
[Ed. note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]
Widespread Losses
Every one of the top 25 digital currencies (ranked by total market value) was in the red at the time of this writing, according to CoinMarketCap data.
While Bitcoin had fallen 8.2% over the last 24 hours, several major cryptocurrencies had suffered losses close to twice that high.
Stellar, Cardano and EOS, for example, were all down at least 16%, additional CoinMarketCap figures show.