AnalysisOpinions

Bloodbath In Crypto Charts

Bullish run? What bullish run?

Market’s been through a change of decoration and not everyone’s happy except the hoarders.

Coin360 Charts
Source: Coinmarketcap

So far, the market has lost almost $13 billion in market capitalization. Could it go any low? The answer is that it could. It’s cryptocurrency after all.

Let’s take a look what went down today.

Bitcoin:

The king lost $300 in price and $6 billion in market capitalization. It’s at the lowest of the day at press time with USD price of $3,298, 10% below the opening today.

BTC chart
Source: coinmarketcap

We’ve come a long way from breaching the $6,700 resistance value to barely staying afloat.

XRP:

From $0.32 to $0.39 press time, XRP has lost almost $2 billion in market capitalization with 10.2% of decrease.

XRP chart
Source: coinmarketcap

Ethereum:

Losing $13 in price and $2 billion in market capitalization was the 3rd largest cryptocurrency by market cap’s day today. It’s still overtaken by XRP, falling $3 billion behind.

Ethereum chart
Source: coinmarketcap

The rest of the currencies fell like dominoes beneath the weight of the top three. Herd mentality at its finest.

Crypto Chart
Source: coinmarketcap

Factom, the best performer a few days ago had it the toughest. Went down by 24% only today.

Rationally, with no stable assets to hold on to, all this shouldn’t be surprising but still is.

Happy December!

 

 

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Sarim Mehmood

An electrical engineer to be. Sarim is a blockchain & crypto enthusiast and an early investor in ETH and Ethereum based projects. Email: sarim@blockpublisher.com or contact the editor at editor.opinions@blockpublisher.com

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