Top Altcoins Record Losses, Bitcoin Drops Under $5,300 Again

Top altcoins at least most of the 20 top cryptocurrencies are reporting slight losses on the day up to moderate losses to press time. In the altcoin news, we can see that the number one cryptocurrency has fallen below the $5,300 price point again according to the gathered data.

Bitcoin is now down just under 1 percent at press time and it tumbled down from the $5,291. It is currently trading at $5,268 but looking at the weekly charts the cryptocurrency is up by 3.7 percent. Some of the top altcoins including Ethereum is still the second largest altcoin by market cap which reached $17.9 billion. Ethereum is down by 2.5 percent over the past 24 hours and is trading around $169. Over the week, the altcoin increased by nearly 3 percent.

According to the cryptocurrency bull and analyst Brian Kelly, the next Bitcoin target is going to be $6,000 and that the crypto market is finding its bottom. Meanwhile, the top altcoins see mixed signals over the weekend which shows an unexpected week is ahead of us.

As previously reported in our latest cryptocurrency news, the second-largest altcoin-XRP reached a market cap of $13.4 billion. This means that the altcoin is down by 2.7 percent over the past day and is trading at around $0.321. Over the week, the cryptocurrency is up by almost a percent and has a 7 percent lower price since the start of the week.

As it was mentioned before, Fundstrat Global Advisors founder Tom Lee explained that the real value by the company’s BTC sentiment indicator dubbed the Bitcoin Misery Index has never previously been seen in a bear market. This contributes to the factor that among the top altcoins by market cap, the coins which report the biggest price actions to include Ethreum Classic, Litecoin, and Ontology.

Bitcoin SV (BSV), among the top altcoins, on the other hand, is seeing some of the worst prices actions after previously increasing up by over 35% on the day, but it later tumbled down and is now trading at $56.42. There is no clear indication if this growth is going to continue. However, as it stands, the growth has brought a lot of positive attention towards cryptocurrencies.