Bitcoin, Ethereum, Ripple, and IOTA bleeding – what are the reasons?
Home News Bitcoin, Ethereum, Ripple, and IOTA bleeding – what are the reasons?
Marcel Knobloch –
The crypto market was in the last days and weeks of little movement and a very low volatility. All the more surprising is the sudden occurring, the price drop of Bitcoin, and almost the entire altcoin market.
Some studies have shown that the Volatitliät of the crypto market has reached its lowest value within the history of digital currencies. The total market capitalization was within the last three weeks in a seemingly deadlocked channel, almost to the 220-billion-Dollar brand.
Within the last few hours, however, are invested almost 10 billion dollars from the market. Against 02:30 PM tonight the prices of all crypto-falling currencies, and recorded an average price drop between 5 to 10 percent.
The price of Bitcoin has fallen by more than 5 percent. The market leader was able to hold the Support Level along the 6.500-Dollar mark for a long time. The rest of the market was also affected, so that Ethereum has a loss Rate of 9 percent to the lowest level since July of 2017 like. XRP, and IOTA also fall by almost 10 percent, and thus the downward spiral.
This pattern has repeated itself in the past few weeks, so this price drop comes suddenly, but not overrated. The trading volume was in the last time are extremely low, and it seemed to have calmed down the crypto market and on a level stabilized, from where a new rally can start.
Currently, large sales are held on the Asian markets in South Korea and Japan, however, it is too early to have a clear reason for the current course to identify animals.Many experts in the industry try to predict the next course, however, there is great disagreement about whether the bottom has already been reached.
The next hours and days will show in which direction the journey goes.