Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS and Stellar have been destroyed

After a few days in a participatory scheme, the cryptography market broke out during night trade. But unfortunately for traders it did not go in the direction they would have hoped.

In the last 24 hours the value of the entire market has plummeted by a considerable 8.5% or around US $ 21 billion to be worth only for the United States $ 218.9 billion this morning according to Coin Market Cap.

The catalyst of this selloff seems to have been a report suggesting that the investment bank Goldman Sachs has postponed plans to open a trading desk for cryptocurrencies. Goldman has not confirmed speculation, but if it were true it would be a bit of a hit at the market.

Crypto expert Brian Kelly told CNBC that: "They were not yet part of the ecosystem, but to the extent that they represent the institutional flock, this is a negative."

I'm on agreement. In my opinion, the only way Bitcoin and its peers will reach the high levels achieved at the start of the year will be if institutional money will pour into the market. But this is not likely to happen soon to judge from these latest news and the rejection of several ETFs.

Here is the status of the work on Thursday morning:

<p class = "canvas-atom canvas- text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The price Bitcoin (BTC) fell 5.5% in the last 24 hours to US $ 6,958.92 per currency, reducing the market capitalization to US $ 120 billion." Data-reactid = "28 "> The price Bitcoin (BTC) has plunged 5.5% in the last 24 hours to $ 6.958.92 USD per currency, reducing the market capitalization to $ 120 billion.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Price Ethereum (ETH) has dropped 13.7% from yesterday to 246.67 US dollars per token, which leaves ETH with a market capitalization of 25.1 billion US dollars ". data-reactid = "29"> The price of Ethereum (ETH) fell by 13.7% from yesterday to 246.67 US dollars per token. This leaves ETH with a market capitalization of US $ 25.1 billion.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The price of Ripple (XRP) fell 10.4% in the period up to 29.80 US cents, while the market capitalization XRP amounts to 11.8 billion US dollars. "Data-reactid =" 30 "> The price Ripple (XRP) decreased by 10.4% in the period up to 29.80 cents. The XRP market capitalization now stands at US $ 11.8 billion.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The price by Bitcoin [19659007] Cash (BCH) decreased by 13% in the last 24 hours to $ 545.82, reducing Bitcoin's market capitalization to just under $ 9.5 milliard. "Data-reactid =" 31 "> price of Bitcoin Cash (BCH) decreased by 13% in the last 24 hours to $ 545.82, reducing the market capitalization of Bitcoin to just under $ 9.5 billion

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The EOS (EOS) the price fell 15.8% from yesterday to US $ 5.47, leaving EOS with a market capitalization of US $ 4.9 billion. "data-reactid =" 32 "> The price EOS (EOS) declined 15.8% from yesterday to US $ 5.47, leaving EOS with a market capitalization of US $ 4.9 billion.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Out of the first five declines were just as severe , except for US Dollar Tether (USDT) which rose 0.1% in line with the greenback: it was only one of the four coins in the top 100 in positive territory in the period ". data-reactid = "33"> Outside the top five, the declines were just as severe, except for the US Tether (USDT) with a dollar that rose 0.1% in line with the green ticket. It was one of only four coins in the top 100 in positive territory during the period.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – -sm" type = "text" content = "Elsewhere in the top 10, Stellar (XLM) fell by 8.3%, Litecoin (LTC) fell by 10.9%, Cardano (ADA) is off of 13 , 6% and Monero (XMR) is less than 11.6%. "Data-reactid =" 34 "> Elsewhere in the top 10, Stellar (XLM) is fell by 8.3%, Litecoin (LTC) fell by 10.9%, Cardano (ADA) is deactivated 13.6% and Monero (XMR) is less than 11.6%

<p class = "canvas-text canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Other readings " data-reactid = "35"> Other readings

<p class = "canvas-atom canvas-text Mb (1.0em) Mb ( 0) – sm Mt (0.8em) – sm "type =" text "content =" Motley Fool contributor James Mickleboro Motley Fool Australia has no position in any of the titles mentioned. Not everyone crazy can have the same opinions, but we all believe that considering a range diversified in depth makes us better investors. Motley Fool has a disclosure policy . This article contains only general investment advice (under AF SL 400691). Authorized by Scott Phillips. "data-reactid =" 43 "> Motley Fool contributor James Mickleboro has no position in any of the titles mentioned. Motley Fool Australia has no position in any of the titles mentioned. all have the same opinions, but we all believe that taking into account a diverse range of insights makes us better investors. Motley Fool has a disclosure policy. This article contains only general investment advice (under AFSL 400691) Authorized by Scott Phillips .

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