Market losses intensify on the second day of the largest price collapse

Thursday, September 6: cryptographic markets are dazzling red, with almost all the top 100 coins posting heavy losses in 24-hour charts, as shown in the Coin360 data.

Market visibility from Coin360

Bitcoin (BTC) It is trading at around $ 6,492 at the time of printing, nearly 6.32 Percent of the day, according to Cointelegraph's Bitcoin Price Index.

After passing the $ 7,000 threshold on August 31st, Bitcoin saw a solid uptrend until its sudden collapse yesterday, September 5. However, in the month, Bitcoin remains about the same 8%

Bitcoin's 7- price table of the Source: Cointelegraph bitcoin price index

Ethereum (ETH) is trading around $ 225 at the time of printing, losing 8% of the day.After a mid-week peak to scrape $ 300 on September 1 , Ethereum traded around $ 290 up until the sudden descent to yesterday.

In its weekly table, Ethereum is down 21.8 percent, with monthly losses rising to 44.8 percent.

Ripples 7-day price chart from CoinMarketCap

Of the top twenty coins, most losses are five percent or higher, with IOTA (MIOTA), down 6.41 percent on the day you print. VeChain (VET) also lost almost 8 percent of the day to trade at $ 0.015.

Many other smaller market stocks have double-digit losses, showing a strong correlation with the major cryptographic resources.

In an interview with Cointelegraph this week, Brian Kelly, founder and CEO of the digital currency investment company BKCM LLC, who is also a regular contributor to CNBC as a cryptographic analyst, said he believes that today's initial coin market (ICO) "the days of a white paper and a dream and $ 30 million are likely to be over."

Crypto industry commentator Joseph Young today gave his Twitter perspective, mitigating the sad image of the market with the suggestion:

"The previous corrections of 2014, 2016 were much more brutal than correction of the crypto of 2018. On average, two years have been corrected, without a positive development to trace for investors In 2018: 1. Crypto up by 50% in Asia 2. Bakkt 3. Better cryptocurrency for institutions. "[19659021] The total market capitalization of all cryptocurrencies is just under $ 205 million. at the time of the press, down more than $ 35 billion from its intraweek peak of just under $ 240 billion.

7-day chart of the total market capitalization of all cryptocurrencies of CoinMarketCap

Eschewing market analysis related to news, today Mati EToro's Greenspan tweeted a four-word final line to a question from the dissatisfied member of the cryptic community, "what was the reason for the dive today?":

"More sellers than buyers." [19659025] window.fbAsyncInit = function () {FB.init ({appId: & # 39; 1922752334671725 & # 39 ;, xfbml: true, version: & # 39; v2.9 & # 39;}); FB.AppEvents.logPageView ();}; (function (d, s, id) {var js, fjs = d.getElementsByTagName (s) [0]; if (d.getElementById (id)) {return;} js = d.createElement (s ); js.id = id; js.src = "http://connect.facebook.net/en_US/sdk.js"; fjs.parentNode.insertBefore (js, fjs);} (document, & # 39; script & # 39 ;, & # 39; facebook-jssdk & # 39;)); [ad_2]Source link