Bitcoin, Ethereum, and all other major cryptocurrencies are continuing their downward slide. The prices of all top 10 coins are down by double-digit percentages in the last 24 hours, according to CoinMarketCap.

Bitcoin is currently trading at $7,951, a 13.4 percent decline, while Ethereum is at $592, a 14.6 percent drop.

SEE ALSO:Bye-bye, Bitcoin. It's all about bananacoins.

The sell-off is likely a result of an onslaught of bad news for the crypto market, and the continuation of a bearish trend that started in January.

Ouch.Credit: coinmarketcap.com

On Wednesday, Google announced it will ban cryptocurrency-related ads on its AdWords platform starting June.

Mashable Light SpeedWant more out-of-this world tech, space and science stories?Sign up for Mashable's weekly Light Speed newsletter.By signing up you agree to our Terms of Use and Privacy Policy.Thanks for signing up!

And last week the market was shook by the news of a hacking attempt on popular cryptocurrency exchange Binance, as well as the SEC announcing more stringent regulations for crypto-exchanges (a similar sentiment was expressed during a congressional hearing on cryptocurrencies on Wednesday). It was also revealed that a trustee for the now-defunct crypto-exchange Mt Gox had been selling a large amount of bitcoins on the market since December, likely contributing to Bitcoin's price decline.

Overall, the market cap of all cryptocoins put together is around $317 billion at the time of writing -- a far cry from its January maximum of $835 billion. The last time this number was this low was in early February, when the total crypto market cap briefly fell down to around $281 billion.

Disclosure: The author of this text owns, or has recently owned, a number of cryptocurrencies, including BTC and ETH. 

---

Featured Video For You

---

This space heater mines bitcoin while keeping your house warm

---

(责任编辑：产品中心)