Cryptocurrency market has been experiencing waves of crashing. The total market capitalization of cryptocurrencies went below $120 billion which earlier this year had crossed the market cap of Apple which right now lies at around $747 billion. In just the last 24 hours more than $23 billion have been dumped from cryptocurrencies.
Bitcoin price is sliding below and breaking all support levels. a $3000 price is not far away as BTC has already lost over 16% since yesterday. Bitcoin is currently trading at the price of August last year before the bulls started to gain momentum taking the price up to $20,000. But the same bulls are not being predicted this year as according to analysts the price will fall further down to $2500 to $3000 levels.
EThereum price has fallen down from the most major support level of $100 which was the last hope for HODLERS. Large ETH sell-offs are being experienced on exchanges especially bitmex. Most of the sell-offs are being predicted to be from ICO owners. ETH is currently trading at the lowest price that ETH has experienced more than a year and a half. Analysts also predicted the major ICO sell-off will start once the price reaches below $100 which is already reached now.
Altcoins are following the giants as all top 100 coins on CoinGecko are colored red. Stellar being the biggest loser is trading below $0.14 losing over 24% in the last 24 hours. Zcash, Tezos all have been crashing sharply over 21%. All major altcoins including TRX and NEO are trading at yearly lows. Even the most controversial stablecoin Tether is down by 0.74%.
The total cryptocurrency market capitalization has declined over 16% in just the last 24 hours with a $23 billion dumped. Yesterday the cryptocurrency market cap was around $140 billion and today it lies around $117 billion.