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Saturday 11 August: after an attempted short-term recovery yesterday, the cryptocurrencies have undergone another collapse today. Almost all cryptocurrencies are down by significant percentages, with Bitcoin (BTC) which is a notable exception among the top 20 market capitalizations, increasing less than one percent of the day.
Display of cryptographic market by Coin360
Bitcoin moves sideways, up about 0.1 percent in the last 24 hours, cryptocurrency priced at $ 6,438 at the time of printing, after a decline to $ 6,051 today.
After rising at about $ 8,230 on July 25, BTC fell by 8.5% on the week. + 1% in the last 30 days
After losing $ 400 support this Monday, Ethereum (ETH) plummeted to a low of $ 306 today. It is now trading at $ 327, with its price of 8% less over the 24-hour period.
Unusually, the currency suffered the heaviest losses among the top ten coins by market capitalization during the day. Ethereum has lost 25% of its value in the last 30 days and over 50% in the last three months.
Price chart of Ethereum Source: Ethereum Cointelegraph's price index
Among the top 20 best market cap stocks, EOS and IOTA (MIOTA) have seen the biggest losses in the last 7 days, according to Coinmarketcap.At the press, EOS trades for $ 5.23, after losing about 25% of the value in the last week, while IOTA is down 36% in the week and trading at $ 0.54. [19659005] The total market capitalization has fallen to a minimum of $ 206 billion today, but the markets managed to track down some of those losses, bringing the number to $ 216 billion from press time, while total capitalization has fallen to levels not seen since mid-November. last year, the number of all digital currencies has rec ende on [18659002] Total market capitalization chart "src =" https://s3.cointelegraph.com/storage/uploads/view/f34fe34a7d462e361d141f55451dd9a7.png "title =" Total market capitalization graph "/> [19659003] Graph of total market capitalization. Source: Coinmarketcap
Today, Bitcoin's share of the total market cap reached 50% for the first time in 2018, as a result of the continued growth that began in May. To make a comparison, on January 1, the Bitcoin domain was around 37%.
Bitcoin's share of total market capitalization (dominance) Source: Coinmarketcap
At the start of this week , Fundstrat's research leader Tom Lee cited the Bitcoin domain as one of the most important factors of how the market is "reacting to what is happening" in the industry.
On Wednesday, Pantera Capital CEO Dan Morehead said that crypto markets reflect an excessive reaction from investors. many have exaggerated the importance of the recent postponement of the US Securities and Exchange Commission (SEC) decision on the application of a fund traded on the Bitcoin exchange (ETF) by the companies VanEck and SolidX.
In addition to recommending in the jurors, they focused on the announcement of the ICC (Intercontinental Exchange) of their cryptographic platform, Morehead emphasized that Bitcoin is still increasing by about 82% in ; year, observing that "it's all perspective".
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