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It was certainly a disappointing weekend of exchanges for the cryptocurrency market with heavy downturns in general.
The declines continued Monday morning bringing the value of the entire market to $ 213.95. billions according to Coin Market Cap.
This is a drop of 1.4% in the last 24 hours and about 7% from this time on Friday.
Here is the state of work on Monday morning:
The price of Bitcoin (BTC) fell by 1.3% from yesterday to 6.335.01 USD per coin, reducing the cryptographic giant's market capitalization of 109 billion US dollars. In addition to being weighed down by the concern that a Bitcoin ETF can never be approved, traders hit the sales button quickly after a Bloomberg Intelligence analyst drove the Bitcoin price to $ 4,000.
The Ethereum (ETH) the price fell by 1.3% in the last 24 hours to USD 321.43 per token. This leaves Ethereum with a reduced market capitalization of just under $ 32.6 billion.
The price of Ripple (XRP) fell by 3% in the period to 29.96 US cents, reducing the market capitalization of the currency alt only to under US $ 11.8 billion.
The price Bitcoin Cash (BCH) decreased by 0.15% from yesterday to 573.69 USD. The Bitcoin spin-off now has a market capitalization of $ 9.9 billion.
The EOS (EOS) price fell 2.2% in the last 24 hours to $ 5.07, leaving the new currency alt with a market capitalization of US $ 4.6 billion.
Things went a little better outside the top five positions with Litecoin (LTC) and Tether (USDT) pushing higher.
Litecoin rose The 1.8% and the Tether rose 0.4% in the period, while Stellar (XLM) fell by 0.2%, Cardano (ADA) fell by 1.1% and Monero (XMR) collapsed by 1.9%.
What are the perspectives?
Given the negative sentiment that has become this month, I would not be surprised to see the market continue to fall below as expected by the Bloomberg Intelligence analyst.
In light of this, I would suggest that investors stay away from the market for the time being.
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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