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I think it is fair to say that 48 hours of trade for the crypto market have been disastrous with heavy cross-sectional bending.
Wednesday to Thursday the market lost 8.5% of its value as traders closed positions quickly after the publication of reports stating that Goldman Sachs was putting away his plans to criptovalute trading.
The sale has continued in the last 24 hours and has led to the market to lose a further 6.6% of its value. At the time of writing, the entire market value is worth 204.5 billion dollars according to the Coin Market Cap, almost 15% less than its maximum intraweek.
It is interesting to note that the managing director of Goldman Sachs, Martin Chavez, reported that the bank was abandoning its cryptocurrency trading desk as "false news" according to CNBC. However, Chavez stressed that there is no timetable for the bank's plans.
In other news, according to Forbes, it is assumed that the United States encrypted exchange with Coinbase could try to collaborate with the Blackrock investment management giant to create a cryptocurrency Negotiated Exchange Fund (ETF).
However, none of these developments has had any impact on prices today and most of the coins continue to sink.
Here is the status of work on Friday morning compared to 24 hours ago:
The price of Bitcoin (BTC) fell 7% to US $ 6,468.75. This decline reduces Bitcoin's market capitalization to US $ 111.6 billion.
The price of Ethereum (ETH) fell 8.1% less than $ 225.01. This left the ETH with a market capitalization of US $ 22.9 billion.
The price Ripple (XRP) has challenged the market and rose by 1.8% to 29.88 US cents. This led to the market capitalization of the currency alt at 11.85 billion US dollars. Ripple is just one of the two coins in the top 50 in positive territory.
The price Bitcoin Cash (BCH) fell 6.5% to US $ 508.49, reducing the market capitalization to US $ 8.8 billion.
The price EOS (EOS) lost 7% of its value and fell to $ 5.07. This leaves EOS with a market capitalization of 4.6 billion US dollars.
Out of the first five was more or less the same. Stellar (XLM) is down 4.3%, Litecoin (LTC) is off 7.1%, Tether (USDT) is less than 0 , 2%, Cardano (ADA) fell 5.3% and Monero (XMR) lost 5.8%.
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