Ethereum collides with a 9-month price of less than $ 300, while Bitcoin shows resilience



13 August: cryptographic markets today failed to support their short-term recovery, with Ethereum (ETH) plunging to a minimum of several months below $ 300 and only a few few altcoins spared from widespread losses, such as show the Coin360 data. Bitcoin (BTC) only sees small losses in the day.

  Market Display by Coin360

Market Display by Coin360

Ethereum (ETH) is currently trading at $ 288, down 9.77 percent on the day. Having traded sideways most of the day to keep close to the $ 320 sign, the top […]

Ethereum losses on the daily chart are the most serious among the top ten cryptocurrencies on the CoinMarketCap listings. Over the week, the main altcoin losses are above 28%, with monthly losses pushing 33%.

Ethereum is currently trading at a minimum of 9 months, touching below the price of $ 300 last November.

  The Ethereum 1 Year Price Chart

The Ethereum 1 Year Pricing Chart. Source: Cointelegraph Ethereum Price Index

Bloomberg analysts have explained that the decline in the price of Ethereum is due to the "pressure of the ICOs that collect", emphasizing that Ethereum is the "most popular" platform on which the blockchain startups build and raise funds [19659005] Bitcoin (BTC), on the other hand, falls by a negligible 1.6% on the day, trading around $ 6.224 at the time of printing, according to the bitcoin price index of Cointelegraph. During the previous trading hours, the asset made a new attempt to overcome the resistance of $ 6,500, but it slipped down, losing around $ 200 within 6 hours.

While at this granular resolution, Bitcoin fluctuations may appear significant, the currency is in fact almost exactly where it was a month ago. However, weekly losses remain at around 9%: only last week, on 7 August, Bitcoin exceeded $ 7,000.

  Bitcoin 1-month price chart

Bitcoin 1-month price graph Source: Cointelegraph Bitcoin price index

Almost all of the other top ten coins on CoinMarketCap's lists are recording significant losses between 4% and 8%, with the exception of Stellar (XLM), which rose 2.25% to trade at $ 0.23 at the time of printing. Stellar has virtually closed losses on its weekly chart XLM / USD [19659002] Stellar's 7-day price chart "src =" https://s3.cointelegraph.com/storage/uploads/view/8bf7f42243f06521a0fc195dddc5a287.png "title = "Stellar 7-day price chart" />

Stellar & # 39; s 7-day price table Source: CoinMarketCap

Among the top twenty coins by market capitalization, IOTA (MIOTA), al 12th place, saw significant losses on the day of Ethereum, down 10.61% at the time of printing.The collapse of the altar has – like that of Ethereum – accelerated in the last hours until the time of printing. [19659002] IOTA 24-hour price chart "src =" https://s3.cointelegraph.com/storage/uploads/view/a1b246d162ddf7602213cacf37eb282b.png "title =" IOTA 24-hour price chart "/> [19659014] IOTA 24-hour price chart Source: CoinMarketCap

TRON (TRX), in 11th place, and Neo, in 15th place, stan no, both seeing losses between 9 and 11%.

Tezos (XTZ), 18th classified, saw something of a bloodbath, crashing nearly 19 percent a day to trade at $ 1.23 – yet, losses were intensified in the last hours before print time.

Bitcoin dominance (BTC) – or Bitcoin's total encryption rate – has surpassed the new record level of 2018, increasing by 52.7% by day. Half may.

  1-year chart of cryptocurrencies for domain "src =" https://s3.cointelegraph.com/storage/uploads/ view / 74a23e79ab4069cff35c87c8116c62c8.png "title =" 1-year chart of cryptocurrencies for domain "/> [19659014] 1-year chart of cryptocurrencies by domain Source CoinMarketCap </em></p>
<p>  The total market capitalization of all cryptocurrencies is about $ 205.5 billion at the time of printing, still close to the lower levels of the three-month chart , which hit $ 207 billion on Saturday 10 August </p>
<p dir=  3 months chart of the total market capitalization of all cryptocurrencies

3 month chart of the total market capitalization of all Cryptocurrencies of CoinMarketCap

Bitcoin which sees greater resilience than other major cryptographic assets, mainstream media today have made a further positive comparison with the mainstream financial sector: in the midst of the disastrous currency crisis in Tu In fact, Bloomberg noted today that "the 10-day fluctuations in the lira against the US dollar now exceed those of the Bitcoin amid the escalation of the currency crisis in Turkey".

Meanwhile, as Cointelegraph's in-depth analysis suggested today, the entire cryptography market has absorbed the impact of the US Securities and Exchange Commission (SEC) postponing its decision on the listing and trading of a high-profile bitcoin ETF until the end of September. The ramifications have apparently softened the Bitcoin and have suppressed its recent value, but as the market suggests, they have also extended to the larger space.


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