The crypto market capitalization has just dived below the $1 trillion mark. We’re not surprised, given the recent negative turn of events. Bitcoin itself has plummeted below the $20k mark. Now BTC price is at $20,143. The case is also not better for altcoins. Ethereum, the second colossal crypto, has also recorded some losses in price. As of August 29, ETH’s price stands at $1,537 after gaining a 7% growth. Related Reading: Bitcoin Taker Buy/Sell Volume Spikes Up As Price Experiences Volatility All these price losses have caused the crypto market cap to fall below the $1 trillion mark. As of August 29, the total figure stands at $950 billion after losing $50 billion in 24 hours. Is There Any Hope For Bitcoin? BTC chart shows a bit recovery from its fall. But there’s still doubt whether it can sustain the gradual climb back to $20K. Bitcoin dipped to $19,500 previously and later recovered to $19900 but still fell again to $19,847. So, it’s hard to think that the upward momentum will continue, given the fluctuations. But other metrics to gauge Bitcoin performance are positive. For instance, Bitcoin dominance increased in 24 hours, indicating that it outperformed altcoins even as it is falling. What Is Happening With Altcoins? One notable thing about the crypto market is that the Bitcoin movement affects altcoins. When BTC goes bullish, almost every altcoin does the same, and vice versa. Now that Bitcoin h...
Crypto Sell-off : Why is Bitcoin Going Down?
