The cryptocurrency markets have produced a slight retracement in response to bitcoin core (BTC) testing a long-term downward line dating back to the historical highs of December 2017. The decline saw the bitcoin cash (BCH) slip back under $ 150, and BTC can not hold over $ 4,000. At the time of writing, ripple (XRP) has once again passed ethereum (ETH) to classify itself as the largest altcoin by market capitalization.
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The combined market capitalization of cryptocurrency loses $ 11.5 billion in one day
The cryptocurrency markets withdrew after BTC formed a third point of contact with a major downtrend line resulting from the historical highs published about 25 months ago.
<img class = "size-large wp-image-273263″ title=”Market update: Bearish Momentum handles leading cryptocurrencies after BTC has tested ATH Trendline” src=”https://news.bitcoin.com/wp-content/uploads/2019/01/mu-4k-btc-w-1024×490.png” alt=”Markets update: Bearish Momentum takes the cryptocurrencies after the BTC tests ATH Trendline "width =" 696 "height =" 333 "srcset =" https://news.bitcoin.com/wp-content/uploads/2019 / 01 / mu-4k -btc-w-1024×490.png 1024w, https://news.bitcoin.com/wp-content/uploads/2019/01/mu-4k-btc-w-300×143.png 300w, https : //news.bitcoin .com / wp-content / uploads / 2019/01 / mu-4k-btc-w-768×367.png 768w, https://news.bitcoin.com/wp-content/uploads/2019/ 01 / mu-4k-btc-w-696×333.png 696w, https://news.bitcoin.com/wp-content/uploads/2019/01/mu-4k-btc-w-1068×511.png 1068w, https: //news.bitcoin. en / wp-content / uploads / 2019/01 / mu-4k-btc-w-878×420.png 878w, https://news.bitcoin.com/wp-content/uploads/2019/01/mu-4k-btc -w.png 1338w "sizes =" (maximum width: 696px) 100vw, 696px”/>BTC / USD – Bitfinex – 1W
At around 1:00 am EDT, BTC has declined by around 6% in an hour. The move reversed all the gains generated by the peak above $ 4,000 which was released on 6 January, sending uncertainty among the markets.
At present, BTC has a market capitalization of almost $ 66.81 billion and a market dominance of 52.5%. BTC is currently trading for $ 3,860 on Bitfinex and $ 3,775 on Bitstamp. The retracement saw the combined capitalization of all cryptocurrencies fall by over $ 11.5 billion, from almost $ 138.9 billion to $ 127.1 billion at present.
<img class = "size-full wp-image-273259″ title=”Market update: Bearish Momentum handles leading cryptocurrencies after BTC has tested ATH Trendline” src=”https://news.bitcoin.com/wp-content/uploads/2019/01/chart-12.png” alt=”Market update: Bearish Momentum handguns that carry cryptocurrencies after BTC tests ATH Trendline "width =" 800 "height =" 550 "srcset =" https://news.bitcoin.com/wp-content/uploads/2019/ 01 / chart-12 .png 800w, https://news.bitcoin.com/wp-content/uploads/2019/01/chart-12-300×206.png 300w, https://news.bitcoin.com/wp- content / uploads / 2019 /01/chart-12-768×528.png 768w, https://news.bitcoin.com/wp-content/uploads/2019/01/chart-12-100×70.png 100w, https: // news.bitcoin.com /wp-content/uploads/2019/01/chart-12-218×150.png 218w, https://news.bitcoin.com/wp-content/uploads/2019/01/chart-12-436×300 .png 436w, https: //news.bitcoin.com/wp-content/uploads/2019/01/chart-12-696×479.png 696w, https://news.bitcoin.com/wp-content/uploads/2019 / 01 / chart- 12-611×420.png 611w "sizes =" (maximum width: 800px) 100vw, 800px”/>Combined market capitalization of cryptocurrency – 7 days
BCH loses 15% in seven hours
Among the main markets, BCH was among the hardest hit, losing 15% against the dollar in just seven hours.
At the time of writing this document, BCH has a price just below $ 140, the lowest market traded since December 20. When measured against BTC, BCH has decreased by 10% in the last seven hours and currently trades for 0.036 BTC.
BCH is currently the fourth largest cryptocurrency market with a capitalization of $ 2.44 billion. BCH has a market dominance of around 1.9%.
XRP and ETH Streets for Second Market Larger Cap
At the moment, XRP is the second largest cryptocurrency market with a capitalization of $ 14.16. Currently XRP includes 11.05% of the total capitalization of the cryptocurrency.
Ripple was among the markets less affected by today's bloodshed, with a 9% drop in the last seven hours to trade for $ 0.35 and 3.7% in the last 12 hours against BTC to trade around 90,500 sathi.
The XRP was able to dethrone the ETH since the second largest cryptographic market after ETH fell 12% in less than eight hours to be traded currently at $ 134. When it is measured against BTC, ETH fell by 6.5% to trade for around 0.035 BTC.
ETH is currently the third largest cryptocurrency with a market capitalization of $ 14.01 billion and a market dominance of 10.95%.
Which cryptocurrency do you expect to spend most of 2019 as the largest altcoin by capitalization? Share your thoughts in the comments section below!
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Disclaimer: Price items and market updates are for informational purposes only and should not be considered as trading advice. Neither Bitcoin.com nor is the author responsible for any losses or gains, as the final decision to conduct a trade is taken by the reader. Always remember that only those in possession of private keys have the control of "money".
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