Cryptocurrencies have a massive sell-off, causing them to drop to new lows.
On Wednesday, the market value of digital currencies tracked by Coinmarketcap.com plummeted to about $230 billion - the lowest level since November. Bitcoin declined -6.1% to $6,457 as of 9:46 a.m. in New York. The crypto plunge follows the U.S. Securities and Exchange Commission's holding off its decision on whether to approve a VanEck exchange-traded fund backed by Bitcoin, thereby probably muting investors’ hopes of seeing cryptocurrencies gain a wider acceptance.