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The cryptocurrency market has continued to bleed continuously in recent weeks. The market shows no signs of recovery from all the injuries caused by the bear. Moreover, he also broke all his main supports.
Some of the best cryptocurrencies are currently traded at the same level as those of 2017, marking this as the lowest point. This includes Bitcoin [BTC], Ethereum [ETH], XRP, Litecoin [LTC], Cardano [ADA], Lumen stars [XLM], Tron [TRX]and Monero [XMR].
Bitcoin [BTC], the governor of the cryptocurrency market, is speculated to be the main currency that started the bloodbath in the market. It is believed that the main catalyst for the currency to sink is its connection to the Bitcoin Cash hash wars. Before the rigid fork, the currency spread to a degree where it violated the $ 6000 limit, breaking investor sentiments. However, the fury did not stop here as the currency went ahead to break the $ 5000 level.
Now, the majority of speculators believe that the currency will soon break the $ 4000. In addition, Tone Vays, a Bitcoin supporter believes that the coin will fall to $ 1500 and the bear will rule the market until the summer of 2019 .
According to CoinMarketCap, at the time of printing, Bitcoin is trading at $ 4312.95 with a market capitalization of $ 75 billion. The cryptocurrency has a trading volume of $ 5.01 billion and has decreased by 22.94% over the last seven days.
Bitcoin seven-day price chart | Source: trading view
Even XRP, the second largest cryptocurrency by market capitalization, has become a victim of the bear's assault. Nonetheless, the currency did much better than all the other cryptocurrencies. He managed to take a strong hold on the second position by defeating Ethereum [ETH].
The XRP is trading at $ 0.40 with a market capitalization of $ 16.51 billion. The currency has a trading volume of $ 713.53 million and has plunged into the Red Sea by 13.16% over the last seven days.
Seven days XRP price chart | Source: trading view
Ethereum [ETH], the third largest cryptocurrency by market capitalization, was the most affected by the bear's attack. The currency is currently trading at May 2017. It has also lost a huge chunk of its market capitalization. The currency that was first abused by ICO, is now drowning in the market of over 7% in the last 24 hours.
Ethereum is trading at $ 122.12 with a market capitalization of $ 12.62 billion. The currency has a trading volume of $ 1.98 billion and has plunged by 31.43%.
Chart of seven-day prices of Ethereum | Source: trading view
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