Major Cryptocurrencies Down Significantly In Past 24 Hours

Nearly all major cryptocurrencies are down in the past 24 hours.

• As of publication time, Bitcoin (CRYPTO: BTC) is down 15%, according to CoinMarketCap.
• Ethereum (CRYPTO: ETH) is down 21%.
• Cardano (CRYPTO: ADA) is down 26%.
• Binance Coin (CRYPTO: BNB) is down 27%.
• XRP (CRYPTO: XRP) is down 25%.
• Dogecoin (CRYPTO: DOGE) is down 19%.
• Coindesk reported today that cryptocurrency exchange Huobi has "scaled back or suspended some of its services and products in certain countries and has stopped its miner hosting services in mainland China."  
• Chinese government and regulatory bodies in the past week have issued warnings over the trading, mining and use cryptocurrencies, throwing cold water on the heated crypto market.
• This came on the heels of Elon Musk's reversal over the acceptance of Bitcoin at Tesla Inc (NASDAQ: TSLA).
• Musk yesterday seemingly tried to shore up crypto prices by tweeting that he would side with crypto in the "battle" with standard fiat currency.

Photo courtesy Unsplash.