Crypto Market Update: Coins Down Across The Board After Brief Stint Of Green
January 23 2018 - 4:23AM
ADVFN Crypto NewsWire
Crypto Market Update: Coins Down Across The Board After Brief
Stint Of Green
After a volatile beginning
of the new year, the crypto markets are again falling across the
board. Almost all of the top twenty coins on CoinMarketCap are in the red on Monday,
Jan. 22, with the biggest loss around 13 percent over a 24 hour
period.
Bitcoin (BTC) is approaching $10,000
again, a threshold that it had briefly dipped below on Jan. 17. BTC is trading
for around $10,709 by press time, with a 8.95 percent
drop over a 24 hour period.
Ethereum (ETH) is also below $1000,
trading at around $981 at press time, with a 8.47 percent drop over
a 24 hour period.
The market’s early year dip appears
to be a repeat of previous January lows, and 2017 had
already seen three large drops of 38, 40, and 29
percent. This makes Jan. 17’s over 30 percent slide of both BTC and ETH
seem to fit into a previously recorded pattern.
This current dip could be related to
a Wall Street strategist predicting a 70 to
90 percent price drop for Bitcoin on CNBC.
The only two coins up
are EOS, trading at around $13.29 by press time and
up 2.10 percent over 24 hours, and VeChain, trading at about $8.29 and up 6.57
percent over 24 hours by press time.
Total market cap is down to around
$514 bln by press time, about $100 bln less than when the year
began.
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