This past week, bitcoin and altcoins started a major downside correction. BTC/USD declined below the USD 12,500 and USD 11,500 support levels. The price even broke the USD 11,000 support area and it is currently consolidating losses in a broad range. Similarly, there were heavy downsides in ethereum and ripple. ETH/USD broke the USD 320 and USD 300 support levels. XRP/USD settled below USD 0.420