Latest Situation in Cryptocurrency Market: Bitcoin Under $5,000
The strong selling wave in Bitcoin and cryptocurrencies continues. While the market, which lost 30 billion dollars last week, entered the first day of this week with a loss of 20 billion dollars, the leading cryptocurrency Bitcoin fell below $ 5,000.
The reason behind the negative outlook in the cryptocurrency market is still unclear. While the Bitcoin Cash hash power war, investors seem to be questioning the decentralization of Bitcoin and cryptocurrencies again after the show of strength during the Bitcoin Cash hash power war. While suggesting that it may fall, the famous crypto money technical analyst Willy Woo emphasizes that Bitcoin may remain under pressure until the second quarter of 2019.
The Battle of Bitcoin Cash
Bitcoin Cash, which came to life four days ago After the split of the blockchain into two different chains, Bitcoin Cash ABC and Bitcoin Cash SV versions emerged. The power struggle between the crypto money media and traditional financial media has also become one of the agenda items.
While the markets are focused on monitoring whether the two cryptocurrencies can continue their lives, Huobi Bitcoin Cash announced that it recognizes ABC as Bitcoin Cash.
Even though the future looks a little brighter for Bitcoin Cash ABC, which stands out in price and hash power, the crypto money market seems to have not overcome the effects of this crisis.
20 billion dollars in the last 24 hours. The market volume, which has lost its value close to $ 165 billion, has been reduced to below $ 165 billion.
Bitcoin regressed to $ 4,975 after the last depreciation, reaching its lowest price value after October 2017;
XRP Stands out in the Top 5
While the market, triggered by the depreciation in Bitcoin, is almost completely red, the value in the 10 percent band of the main cryptocurrencies The depreciation in XRP on the day it lost At the level of 3 percent.
After the recent price changes, ETH lost 13.5%, BCH 11% and XLM lost 10%.
XRP took the seat of the most valuable altcoin from Ethereum. While taking over ETH, it has increased the volume difference between it and ETH to 4 billion dollars;
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