Today we will see how Bitcoin was doing yesterday and how it reacted to world markets. The fall in Bitcoin began in the evening by breaking the support to $ 7,800. How far can we go? Where will the nearest support be?
Cryptocurrency market currently has a total market value of $ 218 billion. Since yesterday’s survey, we have seen a decline of $ 7 billion. We did not have such a slump in 2020. The decline from high in 2020 is $ 88 billion and bitcoin dominance is 64.6%.
The best growth yesterday was:
Bleeding started again, at least yesterday it seemed. Bitcoin fell slightly throughout the day (-1.16%). Many of the less capitalized coins responded to the Bitcoin plunge, adding a more than one percent drop. Only a few altcoins are not affected by this slump.
Aave (LEND) $0,038526 USD (43,70%)
Waves (WAVES) $1,27 USD (6,46%)
Bytecoin (BCN) $0,000361 USD (4,65%)
The biggest drop was recorded:
THETA (THETA) $0,095656 USD (-13,40%)
Swipe (SXP) $0,736961 USD (-9,95%)
Golem (GNT) $0,045214 USD (-11,14%)
v.systems (VSYS) $0,032670 USD (-9,50%)
All datas are from coinmarketcap.com
World markets yeterday
Bleeding continue to index, commodities joined. Bitcoin is exactly following again. The situation on world markets is not improving, quite the contrary. The slump continues and more and more daily percentage losses are added in response to further economic constraints. These have considerable impacts on individual countries and entrepreneurs.
DOW J.: -5,53%
[BTC / USD] In 2020 to present value: + 9 %
So here we are, Bitcoin has not keeped $ 7,800 support and we are currently seeing a slump. The current slump for yesterday is only 1.16%, but altcoins fell much more. We also observe more capitalized coins and these have an average of 2-5% losses. The situation is all the more serious because it looks like the beginning of the downturn and it can get badly overnight.
We also expect that we can continue the decline today. We see the closest support at $ 7,400 – $ 7,000. It seems that the situation in the world and in the world markets is much more serious than anyone thought before, and at the moment the slump suggests it.
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