Bitcoin Losses More Than $600(-5%) In Less Than An Hour As Alts Continue Their Bearish Trend

Price Chart
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Bitcoin Losses More Than $600(-5%) In Less Than An Hour As Alts Continue Their Bearish Trend

BTC and major alts coins, as seen on CoinMarket Cap (CMC), have caught a bearish fever over the last 2 hours. With BTC at the head of this trend, as many as the first 20 cryptocurrencies listed on CMC are falling drastically in price and market capitalization.

The crypto market has been experiencing a “one-sided” alternate bull seasons with only BTC showing great potentials of the price increase. Within the last 48 hours, BTC rose by at least 12% while alts could only seek for a bull season return as they continued their bearish festival.

BTC Over A 1-hour Period

Now, over the last 1 hour, BTC too seemed to have nurtured the common touch and has lost about $739 which represents around -5% decrease in price.

At the time of writing this piece, BTC was trading at $12,375.11 and had climbed down the charts from $13,100 losing $725, about 15 hours since the start of the day.

bitcoin
CoinMarket Cap Showing price chart of bitcoin over 24-hour period | Source: coinmarketcap.com

BTC is capped at $220.54 billion and has a market dominance of 65.41%.

Major Alts

Ethereum (ETH): Ethereum followed the bullish signal and had also moved up the charts recently. However, over the last 24 hours, Ethereum has moved down the charts from $312 24-hour high to its present price.

At the time of writing this piece, ETH is trading at $289.17, which represents a price loss of around -6.75%. Eth is capped at $30.94 billion and has a market dominance of 9.19%.

Ripple (XRP): Ripple made a show of going bullish recently by climbing up to $0.4. However, the show didn’t last as the 3rd most popular cryptocurrency in terms of the market cap had not much to offer.

On the 24-hour price movement, XRP had crashed seriously from the $0.398 mark to a disappointing $0.357 level, representing around 9.47% decrease in price.

At the time of writing this article, XRP is trading at $0.357 and is capped at $15.2 billion.

Other major alts including bitcoin cash(BCH), Litecoin (LTC), EOS, Binance coin (BNB) and Tron (TRX) have all taken a bear blow with all falling down the charts.

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Bitcoin Losses More Than $600(-5%) In Less Than An Hour As Alts Continue Their Bearish Trend
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Bitcoin Losses More Than $600(-5%) In Less Than An Hour As Alts Continue Their Bearish Trend
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BTC and major alts coins, as seen on CoinMarket Cap (CMC), have caught a bearish fever over the last 2 hours. With BTC at the head of this trend, as many as the first 20 cryptocurrencies listed on CMC are falling drastically in price and market capitalization.
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Author: Dare Shonubi

Staff writer at Coingape. Certified cryptocurrency expert and Blockchain journalist covering crypto market analysis and general Blockchain adoption and development.
You can follow me on Twitter at @ShonubiDare or reach out to me at dare[at]coingape.com

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Dare Shonubi 183 Articles

Staff writer at Coingape. Certified cryptocurrency expert and Blockchain journalist covering crypto market analysis and general Blockchain adoption and development.
You can follow me on Twitter at @ShonubiDare or reach out to me at dare[at]coingape.com

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