Bitcoin and many alternative currencies were dumped. Is it a fix?
- and major altcoins dumped.
- Total market cap fell back below $ 2.05 trillion.
- The top 10 cryptocurrencies are all red.
According to CoinMarketCap data, Bitcoin and major altcoins are dumped, leaving crypto investors wondering whether this dumping is a correction or a crypto bloodbath. Furthermore, the red color dominated the crypto markets this morning as total market cap wiped out the gains over the past few days and dipped below $ 2.05 trillion.
What’s more, Bitcoin is down more than 18% from $ 60,683 to $ 51,030. BTC is currently trading at $ 56,931.77 with a 24-hour trading volume of $ 86,177,659,393, at the time of writing.
The prices of major alternative currencies are reduced
Along with Bitcoin, many altcoins drop in price. What’s more, was kicked out, down 8.55%, leading back to $ 2,226.
As shown above, the top 10 cryptocurrencies are all red with the biggest gain in the top 10, down 17.49%. Furthermore, (BCH) and (LTC) are also losing more than 16% today as the rest follow with a loss of 12 to 5%. Furthermore, in the ranking at No. 20, only Solana (SOL) is in the green right now with a 7.31% increase to $ 27.8.
However, nothing seems to give the markets the growth they need right now, with no hackers or negative news provoking a decline. However, there were also other rumors circulating that the event was just a simple pump and dump scenario.
Furthermore, FOMO is one of the most common reactions in this type of regulation in the crypto world. For this reason, many traders mistake whether this scenario is just a correction or a bloodbathing cryptocurrency market. One thing, however, is for sure that the cryptocurrency market will remain strong and stable despite the network’s volatility.
This article was first published on coinquora.com
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