Cryptocurrency Market Update: Crypto Winter is Getting Colder
Red is the dominant colour on crypto markets for yet another day as Bitcoin and its brethren continue their downward slide. There has been no letup in bearish pressure as market capitalization falls back to around $120 billion.
More stories of doom and gloom have appeared about Bitcoin over the past couple of days with predictions of a fall to $1,500. At the moment BTC has fallen through support at $4,000 to an intraday low of $3,740 before making a rebound to $3,860 where it has currently leveled out.
Yet again Ethereum has dumped even further after losing another 4% on the day and is hovering just over $100, its lowest level since May 2017. Bitcoin Cash is dying a slow death – ten percent more lost has left BCH at around $125, a shocking 97% down from its all-time high. Stellar is also having a bad day with a 5% slide but Bitcoin SV has made a little back today, 5% to get to $90. Cardano has been dumped out of the top ten and replaced by Tron.
Binance Coin and Zcash are all dropping over 6% making them the top twenty’s worst performers of the day. VeChain has made a marginal gain as it edges back towards this group at the expense of Dogecoin and Maker which is in a lot of pain today losing 12%.
Today’s big pump is Polymath which has made around 18%, Factom is also performing well as it adds another 16% and Linkey is the only other altcoin making double figure gains during the day’s Asian trading session. Aeternity, DEX and Tezos have taken big dumps today dropping around 12% each at the time of writing. Yesterday’s fomo coin Waves is losing all gains today with a slide of 10%.
Total market capitalization has retreated a further percent and a half today as it falls back to $123 billion. Markets are currently rebounding from an intraday low of below $120 billion a few hours ago but are still down on yesterday’s levels. The crypto winter is getting colder.
FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals.
Source: Read Full Article