Market Overview 9.3.| BTC -7 % – World markets and Bitcoin in a slump
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Today we will focus on Bitcoin and the massive fall in the entire cryptocurrency market. We will not miss a look at the fall of the world market. Altcoins record up to 10% loss.
Cryptomarkets currently has a total market value of $ 239 billion. The decline from high in 2020 is $ 67 billion and bitcoin dominance is 63.7%.
The best growth yesterday was:
It was really massacre yesterday! Only 2 coins were the top 100 of the capitalization plus, so here we have them.
Ren (REN) $0,079886 USD (6,11%)
UNUS SED LEO (LEO) $0,983487 USD (1,79%)
The biggest drop was recorded:
The whole market in a downturn, this is the most critical situation we have seen so far in 2020. Even the largest altcoins have written off up to 10%. Yesterday, the biggest market slump recorded:
Swipe (SXP) $1,05 USD (-15,82%)
WaykiChain (WICC) $0,215998 USD (-15,30%)
Ethereum Classic (ETC) $6,73 USD (-14,76%)
Bitcoin Cash (BCH) $286,05 USD (-14,30%)
Matic Network (MATIC) $0,023324 USD (-14,39%)
All datas are from coinmarketcap.com
World markets yeterday
Markets are currently counting on central banks to try to mitigate the economic consequences of the epidemic by easing monetary policy.
SP500: -1,71%
NASDAQ: -1,63%
DOW J.: -0,98%
GOLD: -0,01%
[BTC / USD]
As we can see, on Bitcoin we dropped to $ 9,500 instead of growth this weekend, we couldn’t keep $ 9,100, but not even $ 8,500. We are currently defending $ 8,000 support. Many investors are already looking at the values that we reflected in 2020 and $ 7,500. No wonder. Coronavirus measures are already having a direct impact on the economy, and world markets are responding appropriately in the form of large, almost daily drops of 2-3%.
Overall, we see large indexes, such as DOW J. or NASDAQ, already down 14% from high 2020. This has a direct impact on Bitcoin, which in turn dominates the entire cryptocurrency market. But we cannot expect anything very positive. The coronavirus situation has serious implications not only for national economies but also for small and medium-sized enterprises.
The situation will certainly not calm down in the next week unless the situation in the world softens (or is not under control). Stadiums are closing and for example in the Italian League will be played without spectators. The situation also has a direct impact on the economy in the NBA, where it is also decided whether matches will be played with spectators. The first reports also mention the move of the Ice Hockey World Championship to Russia, or the complete cancellation of this year. The World Cup is also at risk.
Economic losses have an impact not only on sport but, as a chain reaction, it spreads to other sectors such as education, tourism, culture, theaters, cinemas, and certainly will also affect vacation choices. This will also affect hospitality, restaurants and bars. Consequently, it will affect entrepreneurs and ultimately banks and large institutions. Quite often it is said that the world crisis should occur. In my opinion, we are definitely not going to do this yet, but the situation must quickly come under control, otherwise markets will not calm down.
Current prices
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