Bitcoin plunges 6% in less than an hour, hitting an intraday low of $22,000 amid Silvergate's collapse
, the flagship cryptocurrency took a nosedive earlier today, losing 6% of its value in less than an hour.
At 1:57 a.m. UTC, the bellwether cryptocurrency dropped to an intraday low of $22,000 on the Bitstamp exchange. Bitcoin plunged to its lowest level in two weeks, throwing a wrench in the works for bulls. reported by U.Today , the shares of the embattled bank took a massive 50% hit, reaching an all-time low. This came after the company delayed its annual report and said that it would have to review its books with its auditors. Several of its major cryptocurrency clients, including Coinbase, Bitstamp, Circle, and Paxos, have all made announcements about severing ties.
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