On Sunday, February, 24th, the crypto market suddenly started dropping after an aggressive spike in Saturday. To recap, as a result of a sudden spike on February, 23rd, Bitcoin exceeded $4000, and the second largest crypto currency Ethereum even reached $175. However, the bears dominate in the market again, and it made BTC and altcoins drop by more than 8%. At press time, Bitcoin rate decreased by 8,43% to $3836, asset’s capitalization decreased to $67,361 billion. Ethereum and XRP cheapened by 14,72% and 9,72% to $140,37 and $0,304. As for the TOP-10 Bitcoin Cash is the leader in terms of losses – it cheapened by 15,3% to $132,88, its capitalization decreased to $2,344 billion. Bitcoin domination index on February, 25th, increased to 52,2%, the total crypto currency capitalization lost more than $14 billion over the last 24 hours. According to the expert, sudden drop of digital assets is a result of change of traders’ strategy: they switched to wait-it-out technique. The traders started locking in profit and reduced amount of investments in BTC and altcoins. According to the February’s results, Ethereum is the largest in terms of capitalization growth, the coin was growing against the background of upcoming hardfork which will take place in the end of the current month. Users became more active because of the largest investment banks told about support of blockchain payments. This created conditions for digital currency rally. |
