The crypto market is a sea of red this morning, after a massive collapse by market capitalization, the leading cryptocurrency by Bitcoin. The breakdown of the market leader has caused more than 10% of the board to fall into most of the alternative currencies, including Ethereum, EOS, Binance Coin and many more.
Is it time to buy blood on the streets, so to speak, or the crypto market car just started?
Altcoins Bleed Out As Bitcoin Breaks Through Support
This morning, the price of Bitcoin broke support at $7,400 to quickly fall below $7,000 before bouncing around $6,800 at the time of writing this article and trading around $7,150. The powerful decline and the resulting panic not only resulted in the reduction of the price of Bitcoin, but created a dramatic domino effect in the crypto market.
Following Bitcoin’s decline, market capitalization, Atheruim’s number two crypto asset, has fallen by more than 10% to around $ 135. The third-place cryptocurrency, Ripple, has fallen as low as 23 cents per XRP. But Ripple, in terms of percentage, has remained better than most other alternative currencies in a simple 5% decline.
Following Bitcoin’s decline, market capitalization, Atheruim’s number two crypto asset, has fallen by more than 10% to around $ 135. The third-place cryptocurrency, Ripple, has fallen as low as 23 cents per XRP. But Ripple, in terms of percentage, has remained better than most other alternative currencies in a simple 5% decline.
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