Cryptocurrencies fell after the release of US inflation data which slowed in August but fell short of expectations, This has affected investors' psyche and risk appetite, with the market capitalization of cryptocurrencies as a whole reaching about a trillion dollars.
Cryptocurrencies are a relatively risky investment, which investors turn to when economic conditions improve and they move away from safe havens.
Bitcoin, the most popular currency in the market, fell by about 9% to trade at levels close to the $20,000 barrier, bringing the cryptocurrency's market capitalization to around $390 billion.
Ethereum fell by about 6% to $1613, bringing its market capitalization to $197.4 million.
