At the time of writing this post, Ethereum, as well as Ripple, are both down by more than 5% in the last 24 hours. Similarly, Bitcoin also is moving downwards. There is very little sign of recovery. This clearly indicates that the fall is going to increase on the lower side.
Bitcoin falling consistently:
In the last 12 hours, Bitcoin has fallen by over $ 500. It is trading around $ 7800. While there are predictions that Bitcoin can rise to as high as $ 25,000 but for the time being, it seems like it is consistently falling as well.
Ethereum is also trading around $ 600. It has lost around $ 100 within a short period of time. The blockchain of Ethereum is actually very popular. It is being used for a wide variety of applications. However, that has not prevented Ethereum from falling consistently.
Ripple is currently trading around $ .58. It has fallen from $ .65 quite quickly in the last few days. Also, moreover the usage of the blockchain without the usage of the cryptocurrency is what is causing ripple to fall consistently.
Bitcoin Cash is at the forefront when it comes to the losers,as it has lost almost 17% of the value in the last one week. It is trading around $ 1050. This clearly indicates that it can easily break $ 1000 as well. $ 1000 is actually a psychological support for Bitcoin Cash.
Litecoin has again fallen and is trading around $ 124. There was some kind of support around $ 130 but it has broken that consistently as well.
As a result, when you look at most of the cryptocurrencies, you will realize that they are also falling. With the marquee name cryptocurrencies falling on a consistent basis, the other cryptocurrencies will fall as well. The momentum is on the downside. As a result, none of the investors are looking to invest in cryptocurrencies at the present stage. Only once they stop falling and show some sign of stability, they will think about investing.
The total market cap of cryptocurrencies has moved down by 9%. It is currently around $ 344 billion. This clearly indicates that the news is not positive when it comes to cryptocurrency market. Many of the investors are trying to figure out whether the cryptocurrencies are forming a double of them. However, up until now, that is also not clear on the charts. Owing to this reason, investors are not sure what they should do currently.