The crypto currency market dropped yesterday, as a result, rates of most of crypto currencies dropped by 8-15%. Bitcoin rate decreased to $3850. The analysts believe that the sudden change is a result of dissatisfaction: the traders tried to break through one more resistance level but failed. Upcoming Ethereum hardfork influences it, too. The bulls didn’t manage to maintain above $4200 after the long-expected increase in prices on Saturday. The total crypto market capitalization decreased by $14 billion, trading volume increased to $39 billion. However, the situation stabilized soon, and the experts believe that the market will keep recovering in the near future. Bitcoin rate dropped 8.3% over the last 24 hours and at the moment it is $3840. The analysts note that drop of interest and weakening of bear market can provoke increase in prices in the future. First, it is needed to maintain above $4200, then it’s possible to try to reach $5000. However, at the moment, the market is preparing to Ethereum Constantinople hardfork actively, it will reduce miners’ reward and change the protocol. Usually, the traders try to use such news for speculations and sell the assets right after the event, so most likely, the rate will change considerably this week. Ethereum rate decreased by 14.9% over the last 24 hours and reached $140. Ripple (XRP) price reduced by 9,7% and at the moment it is $0,304. EOS dropped by 15,2% to $3,64, Litecoin (LTC) dropped by 13,9% to $45,15. Bitcoin Cash (BCH) lost 15,2% and is traded at the level of $133. |
