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Unfortunately for merchants, the crypto market has just had a weekend to forget after the intensification of the crypto fusion.
Even if the market is back from its minimum weekend, at the time of writing its value is 15% lower than where it was at this time of Friday at 123.9 billion dollars according to Coin Market Cap.
At one point the sale had been so severe that the value of the entire market had shrunk to $ 114.5 billion.
What is going on?
The weakening of traders' sentiment, the fear of not coming out of it (FONGO) and the signs of downside technical analysis have been attributed to these last declines.
The bad news is that, although the market has rebounded from its lows, most experts believe that things will get worse before they can improve.
As I mentioned here Saturday, Michael Moro of Genesis Trading and Genesis Capital Trading told CNBC that he does not believe Bitcoin will end until it reaches $ 3,000.
This could be a good result for traders, because other experts have suggested that Bitcoin is reaching $ 2,500 and even US $ 1,500 in the near future.
What happens next is the hypothesis of someone, but for now, here is the progress of the cryptographic market compared to 24 hours ago:
The Bitcoin (BTC) the price decreased by 8.1% to $ 3,869.25 USD per currency. This reduced the market capitalization of the giant crypto to 67.3 billion dollars. Bitcoin traded from $ 3,585 per coin in a Sunday phase.
The Ripple (XRP) the price fell 11.6% to 34.99 US cents. This leaves the currency with a market capitalization of US $ 14.1 billion.
The Ethereum The price (ETH) fell 7.6% to $ 113.50. This left Ethereum with a market capitalization of US $ 11.5 billion.
The Bitcoin Cash (BCH) the price fell 9.9% to US $ 180.00. The market capitalization of Bitcoin Offshoot has now fallen to $ 3.1 billion.
The EOS (EOS) the price fell 7% to $ 3.26. This decline has reduced the market capitalization of currency alt to US $ 2.95 billion.
Out of the first five declines were just as severe. The Stellar (XLM) the price fell 16.2%, To tie (USDT) fell 0.9%, litecoin (LTC) is down 6.5%, Cardano (ADA) has plunged 12.8%, e Monero (XMR) crashed by 13.5% less.
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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