5th September saw an amazing bearish run that saw almost all the coins fall at a double-digit pace, pushing the whole market into a vertigo. The fall of Bitcoin [BTC] was a direct indicator of the fall, with the currency breaking at the rate of 3.10% and the price fell to $ 7089.87.
The main alternative currencies such as Ethereum, EOS, XRP and Bitcoin Cash were falling to astonishing figures of experts and stunned owners.
At the time of writing Ethereum [ETH] was falling at a rate of 10.73%. The currency was trading at $ 258.34 with a market capitalization of $ 26.290 billion. In just 30 minutes, the ETH token dropped from $ 283.40 to $ 258.34. The market analysis shows that this collapse of the cryptocurrency board is something of a risk to the holders because only recently the experts were blocking the cryptocurrencies to bask in a bullish run.
Most of the Ethereum trading was happening on Bitforex, which employed 33.96% of the total volume. The 24-hour volume of Ethereum on Bitforex stood at $ 1.058 billion, which was several miles ahead of Binance's 24-hour volume of $ 104.268 million.
Ethereum was also in the previous news when almost $ 134 million of ETH were shifted today for only 29 cents, which provide Digix, an exchange, the perfect opportunity to liquidate nearly $ 20 million dollars of Ethereum.
The other cryptocurrency that suffered from the slide was EOS, going under the knife with a decrease of 10.26%. At the time of writing, EOS was trading at $ 5.83 with a market capitalization of $ 5.279 billion. The market volume of $ 860.580 million was distributed significantly between the DOBI and HUOBI trade, two famous cryptocurrency exchanges.
The most surprising thing about the fall was the short period in which the fall occurred. Within 40 minutes, the currency saw a 10% decline from $ 6.49 to $ 5.79.
Larrycrane, a Reddit user commented:
"All current coin reports sound like shit now.The volatility of the market shows that not everything can be predicted by these big men on Wall Street. that power is still in people and not in some corporate seeds.Everybody hails the power of the market! "
Nexphone, a fan of cryptocurrency affirmed:
" WOWOWOW! This is a narrative shit at the next level! of the market and the increase should be a lesson for all these "experts." In any case, was Trump involved in this? "