Over $6 Billion Out Of The Cryptocurrency Market As BTC, XRP, LTC, BNB And Other Lose Significantly Against The USD

cryptocurrency

The cryptocurrency market has been bleeding out for the past few days. However, the losses today were more significant than the cumulative losses over the said period. The Bitcoin price prediction 2019, XRP price prediction 2019, Litecoin price prediction 2019 and the price prediction of almost every cryptocurrency in the market now hangs on the balance. Cryptocurrency news from different parts of the market has been positive but the sell-off is becoming more intense. Binance Coin (BNB) and Litecoin (LTC) are surprisingly among the biggest losers.

Is Cryptocurrency Dead? Cryptocurrency Market Update – Cryptocurrencies Fall Against The USD

A few days ago, the Binance Coin (BNB) reached a 52-week high and set its target at $30. The price of Bitcoin moved above the $5300 level and many other cryptocurrencies rallied with it. XRP wasn’t doing so well doing this time as it continued to hover above the $0.33 level and was even recording loses against the USD. As expected, the spike in the price of cryptocurrencies was followed by a market correction which has cost the entire cryptocurrency market about $6 billion in market capitalization.

Bitcoin (BTC) Price Today – BTC / USD

Name Price
bitcoin
Bitcoin
$9,983.07-6.55%

The fall in the price of altcoins and the resilience of the price of Bitcoin cost it to add 3% to its market dominance moving from 52% to 55.5%. At the time of writing, the price of Bitcoin (BTC) was $5,289.75. This means that it is down by 0.92% against the USD. The trading volume over a 24 hour period is $13,376,967,915 and the market capitalization is $93,406,168,854. The bears seem to be running out of steam so the market correction is expected to end anytime soon.

Ethereum (ETH) is trading at $168.82. It is down by 2.84% against the USD and down by 1.79% against the price of BTC. The trading volume over a 24 hour period is $6,052,750,015 and the market capitalization is $17,853,522,929. ETH was expected to move as high as $200 after it crossed $185 during the last Bitcoin bull run. Unfortunately, it has been declining since then and has now lost the important support at $170.

The Binance Coin (BNB) spent the better part of the first quarter trading in green against the USD and BTC. After reaching its new high, it started to fall. At the time of writing, it was trading at $23.91. This means that it is down by 2.61% against the USD, but up by 0.44% against BTC. The trading volume over a 24 hour period is $309,008,487 and the market capitalization is $3,375,501,309.

Litecoin is also down significantly against the USD. It is trading at $75.71. This means it is down by 6.66% against the USD and down by 5.74% against the price of BTC. The trading volume over a 24 hour period is $2,889,424,955 while the market capitalization is $4,651,913,929.

Meanwhile, as almost every cryptocurrency is bleeding out, Basic Attention Token is gaining against the USD. At the time of writing, it was trading at $0.454078. This means that it is up by 7.90% against the USD and up by 8.95% against the price of BTC. Against ETH, it is up by an amazing 11.19%. The trading volume over a 24 hour period is $173,090,656 and the market capitalization is $567,570,382.

Do you think the cryptocurrency market correction would be accompanied by a spike in price? Is cryptocurrency dead? What do you think about the cryptocurrency news today?

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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