0 C
Chicago
January 16, 2019
BTC News Today
Blockchain

Another Day Another New Low For Crypto Markets

Crypto markets dump to new lows again; Bitcoin Cash, SV, nearly dead, Litecoin surviving.

As predicted yesterday crypto markets have dumped to a new low during intraday trading. A minor recovery during the week could not be sustained and total market capitalization has fallen to a new low of $101 billion a few hours ago.

Bitcoin led the drop when it fell through support at $3,400 a couple of days ago and kept going back down to a new 2018 low of $3,205 at 22.00 UTC. A quick bounce took it back to $3,250 but Bitcoin is still at its cheapest price for 16 months.

Needless to say Ethereum has also been smashed dropping to a low of $83 before recovering back to a very weak $85. The rest of the altcoins are all in pain during Asian trading today. The top ten is a sea of red and as usual the Bitcoin Cash twins are getting hammered with BCH dumping 10% and BSV 12%. EOS and Litecoin have stopped falling at the time of writing but the rest are down a couple of percent.

The top twenty is all in the red also with Monero and Nem getting hit the hardest dropping around 7% each. The rest are down 2-4 percent since yesterday and are at rock bottom prices for the year.

There are only two altcoins getting a fomo pump at the moment, Waves and Revain are up about 10% right now. Syscoin has entered the top one hundred with a big pump today but it is likely to do the exact opposite tomorrow. DEX is getting smashed at the other end of the table with a 40% dump on the day. MobileGo is also having a bad day with a 20% drop.

Total market capitalization is down another 3% on the day and is currently around $103 billion. A new 2018 low was made a few hours ago of $101 billion and as things stand market cap will be double digits very soon. Over 9% has been lost from crypto markets since last weekend and almost 45% since the same time last month. The selloff does not seem to be abating and things are not even stabilizing at a bottom – down is the only direction for cryptocurrencies at the moment.

FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals.

Related posts

Tron Fundamentals Continue to Strengthen With New Exchange Partnerships

Martin Young

Bitcoin and Crypto Markets Drop Slightly Following Recent Price Surge

Cole Petersen

Bakkt Makes First Expansion Acquisition to Prepare Crypto Platform

Martin Young

Leave a Comment