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Bitcoin, Ripple, Ethereum and Stellar sink lower after profits have weighed on the encrypted market

Unfortunately for traders, the crypto rebound was only short-lived and the declines were seen across the board on Friday morning.

This left the entire market with a value of US $ 136.8 billion according to the Coin Market Cap, down 3.5% from yesterday.

What is going on?

It is likely that these declines are attributable to profit taking after Bitcoin and its crypto peers have increased significantly compared to the previous day.

In fact, the only real news published in the last 24 hours was probably positive for the market.

That news was about the president of the New York Stock Exchange (NYSE) stating his belief that the cryptocurrencies are here to stay despite the recent rout of the market.

According to Forbes, Jeff Sprecher spoke positively about Bitcoin at the Consensus: Invest in New York conference.

He said: "Bitcoin somehow lived in a swamp and survived.There are thousands of other tokens that you could argue better, but the bitcoin continues to survive, thrive and attract attention." Often in finance, you do not it's about being the best – it's about being the broadest and the most commonly accepted and for whatever reason the bitcoin has become so. "

I think Sprecher makes a good point on Bitcoin and thinks it probably has the best chance of success in space if the cryptography market is here to stay.

In the meantime, however, here's how the most important coins are at the moment, compared to 24 hours ago:

The Bitcoin (BTC) price is down 1.9% to US $ 4,235.99. This leaves the giant crypt with a market capitalization of 73.7 billion dollars.

The Ripple (XRP) the price fell 4.8% to 37.71 US cents. This decline reduced the XRP market capitalization to US $ 15.2 billion.

The Ethereum The price (ETH) is 4.9% lower at $ 117.74 per token, reducing market capitalization to $ 12.2 billion.

The Stellar The price (XLM) fell by 0.4% to 16.4 cents in the United States. Stellar is now the fourth largest currency with a market capitalization of $ 3.15 billion.

The Bitcoin Cash The price (BCH) fell 7.7% less to $ 179.62 per token, leaving the Bitcoin grant with a market capitalization of $ 3.1 billion.

Outside the top five, the decline continued with EOS (EOS) down 10.2%, litecoin (LTC) outside 4.3%, To tie (USDT) down 0.25%, Bitcoin SV (BSV) 4.6% lower e Cardano (ADA) down 2%.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all have the same opinions, but we are all convinced that, considering a diversified range of insights, we have become better investors. Motley Fool has a disclosure policy. This article contains only general investment advice (with AFSL 400691). Authorized by Scott Phillips.

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