- Major Altcoins Hit 6-MONTH Lows
- Ripple, EOS, Litecoin and Others Lead the Decline
With the recent price movement of altcoins, there have been several price crash of altcoins doing the week, with some little consolidations here and there, still, the price has hit a dead end. Altcoins are still trying to recover from Tuesday’s sudden price crash, the price movement left double-digit losses for altcoins. Unfortunately, Bitcoin took the strongest hit with a massive loss of up to 34% with other altcoins hitting several month lows.
As of yesterday, the trading price of altcoins received some consolidations, sadly today, the trading price is showing a plunge towards the downward trading price. Almost all the top 10 altcoins by market cap have hit a 6-month low, this happened shortly after the massive decline of BTC’s trading price.
Stellar (XLM) the 10th most popular coin narrowly escaped the red zone, the coin is currently trading at $0.058, amassing a 3% profit. As at the time of writing, Litecoin, EOS, and Binance Coin have declined to their lowest trading point of 6-months following Bitcoin’s major sell-off pushed traders to quickly withdraw for the market.
In the last 24 hours, Ether declined by 2.35%, currently trading at $164 per coin, recording a loss of $60 for the past 7 days.
Bitcoin (BTC) Price Today – BTC / USD
| Name | Price | 24H % |
|---|---|---|
 | $0.00 | -0.15% |
Ripple is not left out of the price decline, currently, XRP is trading at $0.22, which is below 1.58% on the day. XRP is currently is the biggest loser amongst other altcoins by market value. Going by the altcoin price analysis, XRP is way above other altcoins after hitting its lowest trading price in almost 2 years. Bitcoin cash (BCH), Ether (ETH) and Bitcoin SV (BSV) experienced the least effect of the downward price flu after hitting just 4-month lows.
With the downward price movement of altcoins, several analysts are thrown into a state of contention as to which coin will get support first as most of the coin has passed below their 200-day moving average point, indicating a long-term market condition as at July. Going by the overall market cap as of September 24th, 2019, a total of $16 billion has been withdrawn out of the altcoin market excluding Bitcoin.
Other altcoins that declined and are experiencing exit of cash include EOS – 3%, BCH – 4.7%, while ADA and TRX are both experiencing losses close to 3%. Huobi Token (HT) is having is worst out of the altcoins, the coin is down almost at 5%. Currently, the total cryptocurrency market cap is at $213.5 billion, with Bitcoin making overall up to 68.2%.
Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.
