AltcoinsBitcoinBusiness & FinanceNews

Another Market Crash Leads to Further Decrease in Bitcoin (BTC) Prices

The crypto industry faces another major blow that leads to decrease in prices of almost all the top cryptocurrencies and the price of Bitcoin (BTC) goes below the mark of $3,500, according to sources.

The crypto market crashes have now become more of a routine as every now and then, news circulates that the prices of digital assets have decreased and the top digital assets are mostly the prime sufferers of such events. The crypto industry is still in a grey area due to events like these which force crypto assets’ values to go down, putting doubts in the minds of consumers and investors. The impact of this particular market crash will be shed light on in detail in this news piece.

So where does this market crash leave the flagship digital currency? Bitcoin’s current price stands at $3,433 with a percentage decrease of 1.23%, forcing the digital currency’s price below the mark of $3,500. It seems like bitcoin’s price is only going downwards since the last time a market crash was reported, the cryptocurrency’s price fell below $3,600 and this time around, we see it falling further low. Since the start of this week, we can see bitcoin’s price decreasing by almost 3% as it falls from $3,594 at the start of the week to $3,433, recorded now.

BTC Price

Bitcoin is not the only cryptocurrency that has suffered through the hands of these market crashes, other top cryptocurrencies have also seen prominent downfalls in their prices following the recent market crash.
Ripple (XRP), the leading altcoin also saw a 2% decrease in its value, recording the cryptocurrency’s price at $0.3007 at press time. In this market downturn, Ripple (XRP) was amongst the most affected cryptocurrencies that recorded yet another downfall in its value since the last time news of crypto market crash came out a week ago.

The second largest altcoin, Ethereum (ETH) decreased by a little over than 1% in this market downturn which saw its price go down to $107, which was recorded at $114 a week ago. Like many others, Ethereum’s price has constantly been decreasing following such events, causing negative effects on the values of the cryptocurrencies. From the beginning of the week, the price of Ethereum (ETH) has gone down by 7% as its value drops from $114 a week ago to $107 today.

This week, Stellar (XLM) remains one of the most negatively affected digital currencies as its price decreases to $0.08068 at %2.45. Last week, the digital currency was also among the major sufferers of the market crash and similar is the case for Stellar today which remains at a prominent negative in the crypto market.

This market crash forced the prices of many cryptocurrencies to fall but there were some which came through a positive outcome in these events. Some cryptocurrencies benefited in this week’s price analysis, such as; Waves (WAVES), EOS, Litecoin (LTC) and Tron (TRX).

Waves (WAVES) saw a growth of over 1% which caused its price to rise up to $2.84 at press time. Similarly, EOS increased at a percentage rate of 1.61%, recording its price at $2.43. Litecoin’s price also went through a rise of up to $34 recorded today, increasing by 0.05%. However, Tron (TRX) becomes the most uplifted cryptocurrency of the week with its price increasing to $0.02735 at the rate of 5.32% among the top 25 cryptocurrencies.

Almost all the top cryptocurrencies suffered tremendously in this week’s price analysis but there were a few who came out with the green flag. Bitcoin (BTC) was among the suffering cryptocurrencies in this market crash which has mostly always been the case and this time, the cryptocurrency fell below the $3,500 landmark, around which it has been moving around in recent times. The question whether Bitcoin will see a positive result that will lead it back to its top spot is still intact and for how long, no one knows.

Jaudat Sulehri

A management student, sports enthusiast and a writer. Jaudat gives his insights on the cryptocurrency in the world of trade and blockchain technology in particular. He also holds investments in XRP and BCH. Contact the editor at editor.opinions@blockpublisher.com

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.