Bitcoin fell below $6000 level first time since August and reached the lowest value in more than a year, Bloomberg reports.

The largest cryptocurrency in the world lost 15%. This is the biggest decline since February. Rivals, including Ether, Litecoin and XRP, lost more than 17%. Bitcoin Cash fell by 21%, as offshoot of Bitcoin faces its own split.

According to experts, the market is in search for the bottom. Some traders assume that investors are leaving Bitoin to invest into Bitcoin Cash after it splits on hopes that new coins will appreciate.

Price of Bitcoin fell to $5322, the lowest level since October 2017. Losses from the record high level of December are 70% already.