Tuesday , November 19 2019
Home / canada / Most of the Top Cryptocurrency is in Red, Bitcoin is Falling Under $ 3,900 Again

Most of the Top Cryptocurrency is in Red, Bitcoin is Falling Under $ 3,900 Again



Sunday, December 30 – most of the top 20 cryptocurrency incurred losses while some reported stealth profits. The price of Bitcoin (BTC) is below $ 3,900 again, according to Coin360 data.

Market visualization

Market visualization of Coin360

At the time of the press, Bitcoin fell a fraction of the day, trading around $ 3,880. Looking at the weekly chart, the current price is substantially lower than Monday's highs of $ 4,271, and also lower than $ 4,011, BTC prices one week ago. In addition, current prices are still far from $ 3,642 – mid-week lows registered on Friday.

7 day Bitcoin price chart

7 day Bitcoin price chart. Source: CoinMarketCap

Ripple (XRP) – the second largest cryptocurrency based on market capitalization – remained relatively stable on the day, trading around $ 0.399 at press time.

On the weekly chart, the current price is higher than $ 0.367, the price at which the coin starts the week. However, current prices are also mainly lower than mid-week highs of $ 0.446 reached on Monday.

7 day ripple price chart

7 day ripple price chart. Source: CoinMarketCap

Ethereum (ETH) remains the third largest cryptocurrency based on market capitalization, but the gap between Ripple and ETH is declining. Ethereum's current market capitalization is $ 14.380 million, while Ripple is $ 14.936 million.

Ethereum has seen more than a 2 percent increase in value over the past 24 hours. At press time, ETH traded around $ 139, after starting the day at $ 136. On the weekly chart, the current price is higher than $ 129 – which is the ETH value last Sunday – but also lower than Monday's high of $ 157.

7 day chart Ethereum

7 day chart Ethereum. Source: CoinMarketCap

Among the top 20 cryptocurrency, the only ones reporting profits – other than Ethereum – were EOS and Dash (nearly 3 percent), Cardano (1 percent), and NEM (up three-quarters percent). Today's biggest winner is the NEO, which rose almost three and a half percent at the time of the press.

The combined market capitalization of all cryptocurrency – currently equivalent to around $ 130 billion – has lost around $ 3 billion this week, but has recovered about $ 10 billion since the mid-week low of $ 120 billion. In addition, crypto's total market capitalization has also lost around $ 17 billion since the highest $ 147 billion weekly reported on Monday.

Total crypto market charts, 7-day charts

Total crypto market charts, 7-day charts. Source: CoinMarketCap

As reported by Cointelegraph recently, graphics processing unit manufacturer (GPU) Nvidia faces a class action lawsuit over reported losses after the cryptocurrency market decline reduced demand for GPUs by miners. After mining collapsed, the company's share price lost 54% of its value and became the worst S & P 500 player.

In addition, leading ASIC mining producer Bitmain reportedly plans to lay off more than 500 employees and stop mining operations, because the company's CEO was reported in Chinese media who were expected to resign.


Source link