Over the past couple of months, the cycle of market dumping has been repeated several times. Total market capitalization has dropped by ten billion which has left the market with $215 billion market capitalization over the past 24 hours.
Bitcoin (BTC) dropped by 2.5% falling to $6540 maintaining its recently bearish nature of not getting above $6700 and as a result, it has left no choice for crypto traders but to remain cautious as the bears are dominating again. Similarly, Ethereum (ETH) dumped by 5% making it look weak.
Analysing and writing about market roundup has become very predictable lately. Just like last week, altcoins are all in the red. Similarly, bitcoin cash (BCC) is getting hit the hardest in the top ten with an 8% dive to $517. Altcoins like Stellar (XLM), Litecoin(LTC) and Cardano (ADA) are on the verge of losing 4-5% till date. Top 20 is not looking better with all the coins dropping, individually by 2-4%.
Only a handful of altcoins are in the green currently, that includes Eternal Token, making the growth of 8% climbing it up to $2.22. Similarly, Zcoin is up with 6.6% ReddCoin with 4% on the day. Rest of the coins have been getting dumped by taking the biggest hit of 23%.
The pattern of dumping has seemed so difficult so often making it tiresome to monitor the market. Cryptos were making it difficult to maintain their gains as they couldn’t maintain the gains for more than a couple of days. Total market capitalization as dumped over 3% making it $216 billion. Bitcoin is currently at 52% and has fallen back somewhat over the past couple of weeks.