According to the Coinmarketcap, It’s a down day for the global cryptocurrency markets. Crypto Market Sheds Billions as top 100 Assets Down Sharply. As with just three of the top 100 assets by market capitalization having posted 24-hour gains. In the past couple of months, Bitcoin is continuously seeing a surge in price, where it reached $19,000 from $6,000 only. Now it’s value is down.
Crypto Market Sheds Billions as top 100 Assets Down Sharply
During the recent hours, Bitcoin’s price dipped down to $12,000, however, it is currently trading at $13,600, as of writing. But whereas earlier this week bitcoin’s decline coincided with an increase in the total value of the market as a whole. But today it has dropped roughly 25 percent from a high above $650 billion to a low of $480 billion.
According to the latest stats, Ethereum observed a drop down of 20%, Bitcoin Cash has gone 30% below. Whereas Lite coin went below by 21%, and almost every other high-profile altcoin observed a down in the past 24 hours.
Only a few assets seem safe from what appears to be an exodus from the cryptocurrency markets. Ripple’s XRP, ICO tokens for GameCredits and Electroneum are posting 24-hour gains.
The reason behind this downfall is still unknown. As nobody knows why Bitcoin’s price has boosted up by 1700% in a single year. Now the reason of this downfall is still a mystery.