In the daily cryptocurrency news this Monday, we are reporting a new dip which made Bitcoin and many other altcoins suffer – and resulted in almost $4 billion wiped away from the total cryptocurrency market cap.
The series of new losses put Bitcoin in the $3,700 region, Ethereum near $126, Ripple at the $0.3 level and almost every cryptocurrency from the top 20 in the red. While BTC is down by 2.4% over the past 24 hours, the biggest loser in the top 10 list is EOS which has decreased by 8.88% and is now trading at $3.25.
Meanwhile, Litecoin (LTC) and Binance Coin (BNB) are the only two coins that are holding their weekly gains.
Red is all that the market has seen and the situation is not changing.
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Right now, analysts predict that this crisis could soon be gone – only if the trading volumes spike. Even though BNB was up despite this market crash, it also went with the market and dropped 1.21%, decreasing to $11.38 at press time.
Litecoin (LTC), on the other hand, has dipped to $46.36 at press time, decreasing by roughly 4% and maintaining the fifth place in the top cryptocurrencies by market capitalization list.
Is this sign of a new bearish market?
We cannot say that for sure. However, a dip that is so intense and powerful may certainly head us to a spring that mimics the crypto winter which was long and frustrating for every trader.
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