The prices of cryptocurrencies are set to continue falling as a new wave of massive sales on the various trading platform starts. This sale has resulted in a massive fall of over $120 billion. This was realized after it was found that the crypto markets had lost about $23 billion since the start of the new wave which started about a day ago.
As earlier predicted, the Bitcoin network is on its way down and seems to be meeting the expectations of speculators who have predicted that the Bitcoin would fall down to $3000 to one BTC. Just today, it has been seen that the Bitcoin has lost over 15% of its market share in one day. At of the time of writing, the Bitcoin is currently trading at $3700 to one Bitcoin. The fall seems to show no signs of stopping as the prices are predicted to go even lower. It is to be noted that the prices at present have hit the same level which it was around August 2017. However, since the sell-off which started some weeks ago, the prices of Bitcoin have gone down to a point where it can be said to have lost about half of their value.
The prices of bitcoin have gone down to a point where it can be said to have lost about half of their value.
Ethereum which is largely considered second only to the magnificent Bitcoin is also experiencing losses as they have lost about 15% of their total market valuation. This downgrade has seen the Ethereum fall all the way down to just above the $100 mark. It is predicted that the cryptocurrency is going to even fall lower as the sell-off is set to continue. Most spectators are speculating that the coin would hit double figures in less than no time which would be terrible for Ethereum.
As for the other alternative coins, they would also be facing what is impending doom as the sell-off ripples through them. As of today, Stellar which is based in Asia can be considered to be one of the greatest losers. This altcoin has lost over 23% of its market evaluation since this downgrade started.
With more crashes expected, it is hoped and prayed by the many investors that the Bitcoin stays on course to increase at the end of the year. For now, all they can do is to stay and wait for the cryptocurrency to rise once again.
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