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Crypto sector lit up bright red

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Bitcoin is lower by 11% and Litecoin 9.5%, to name a couple. The highflying Ripple is down 15% today, and off 30% from a peak hit last week.

Ether is lower today, but that’s after surging over the weekend to a new record high of more than $1.2K. Down 5% on today’s session, it’s now at $1,074 vs. about $725 to start the year.

Making the rounds as traders look for excuses: Popular valuation website CoinMarketCap today removed Korean exchanges from its price valuations. As valuations tend to be higher in Korea, price charts immediately took an ugly turn, prompting selling from the technicians who seem to make up the vast majority of crypto traders (sounds like forex).

Related tickers: OTCQX:GBTC, COIN, RIOT, OSTK, SSC, MARA, UEPS, OTC:BITCF, XNET, GROW, OTCPK:BTSC, OTCQB:BTCS, OTCQB:MGTI, OTCPK:BTLLFSRAX, OTCPK:GAHC, OTCQB:UBIA, OTC:ARSC, OTCPK:USTC, OTCPK:PRELF, OTCPK:BLKCF, OTC:CRCW, COINB, LFIN

This article was curated from Google News. You can read the original article here.