Cryptocurrency Market Crash: Bitcoin Mass Dumping

8 months ago

The cryptocurrency market is on the bearish track again with over $10 billion in just a few hours. The major rise that moved up the market for 2 days was being predicted as a dead cat bounce by major cryptocurrency market analysts and it seems that their words were correct. The total cryptocurrency market capitalization is now just around $130 billion according to coinmarketcap.

Bitcoin price had experienced a correction which led to the price to rise above $4300. But as it was being predicted that the low was not reached when the cryptocurrency market crashed before, bitcoin has again fallen down the $4000 mark and is currently trading between $3900 and $4000 range.

The new resistance is set around the $4000 range now with the major support around $3800 and $3900 which is not too strong to hold the selling pressure which was earlier experienced in the past weeks.

Altcoins

BitcoinSV which was the only coin that did not drop yesterday with the other major coins crashing down has now dropped significantly over 12%. Bitcoin Cash ABC is down by around 8%. Apart from the bitcoin hard forks other top altcoins such as Cardano, Steller, NEO, Zcash, ETC all are amongst the losers list.

The total cryptocurrency market capitalization is around $130 billion and is predicted to lower down with a similar action that occurred last Sunday.

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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