Crypto Market Wrap: $3 Billion Lost as Friday Dump Accelerates

Market Wrap

Crypto markets in selloff this Friday, XRP dumping recent gains, Tron and Stellar falling, NEM collapsing.

As expected crypto markets are starting to fall back again as we end the week. Strong down trend lines cannot be broken and the majority of crypto assets are retreating once again as total market capitalization drops back to $112 billion.

Bitcoin hit its resistance at $3,500 once again as its intraday high but bounced off it pretty quickly falling back to a low of $3,440 where it currently trades. The decline equates to a loss of 1.5% on the day and BTC is looking bearish and likely to extend losses down to $3,200.

A weakened Ethereum has dropped 3.5% over the past 24 hours as it falls back to $105. Double digit ETH prices are looking imminent once again and it is only $20 away from its lowest level for 18 months. XRP has fallen further following its pump during the week. A 7% dump on the day decreases the gap back to $1.4 billion as XRP wipes out yesterday’s…

Read Full Story : NewsBTC

2019-02-01 07:10:17

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