Bitcoin crashed 15% to its lowest level since mid-June.
Brian Kelly, CEO of BKCM, told CNBC that $9,000 was a "major support" level — when bitcoin broke broke below that, a "wave of selling" was triggered.
Other "alt coins," or alternative cryptocurrencies to bitcoin, also tumbled. Ether and Litecoin fell as much as 20%.Bitcoin plunged to its lowest level since June on Tuesday. The world's most popular cryptocurrency fell as much as 15% to a low of $7,944.33, according to industry site CoinDesk. That marksAnalysts pointed to a number of reasons for the dip, including the cryptocurrency breaking a key resistance level. Brian Kelly, CEO of BKCM, told CNBC that $9,000 was a "major support" level — when bitcoin broke broke below that, a "wave of selling" was triggered.
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