BTC, ETH and cryptocurrency market crashing with huge volumes

8 months ago

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

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

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

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%.

Market Cap

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.

Janet F. Sanchez

Janet Sanchez writes articles which, considering where you’re reading this, makes perfect sense. She is best known for writing cryptocurrency related news and blogs. She also writes about business, finance, and technology. Working from home and taking care of her little son, she has a passion for writing.

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