Cryptocurrency Currently a Bear Market, Traders Begin to Lose Hope in Recovery
Crypto traders are trying to increase the market volume of cryptocurrencies while the market remains to fall below 285 Billion US Dollars.
Bitcoin makes a modestly increases to 0.8% equivalent to 7,450 USD and it remained constant until Tuesday, however, other cryptocurrencies have decreased. Ethereum decreased by 3% making it value drop to 465 USD in the last 24 hours.
All other alternative cryptocurrencies are decreasing- the Stellar made the most-sizable decrease to 7.5%. Also, XLM has decreased to 0.287USD after it was at 0.317 on Wednesday, and its volume has decreased to 43% in the last three days. OTA and XRP also decreased from 5 to 6% on that same day.
Dash managed to increase to 3% which is equivalent to 274 USD which represents a 22% increase from 224 USD last Friday. Dash has increased 8% since June 20 when it was about 255 USD.
The top twenty alternative coins are decreasing further with Vechain making the most sizable decrease. VEN has decreased by 12.5 % to 1.67 on that day and decreased by 12.5% to 1.67 USD throughout the week, where it showed the most sizable decrease from 3.20 USD last month.
OmiseGo also decreased 10.5% to 7.16 USD and Neo has decreased 7.5% to 34.60 USD. And, all top 20 alternative cryptocurrencies have lost about 5%. And, on that day, a few other altcoins including Decentraland, Venritaseum, Dropil and ZenCash were trading at a higher rate of 5 - 7%.
The total crypto market capital decreased 2% back to 284 billion US Dollars. And, cryptocurrencies’ trade volume has decreased from 18.5 Billion US Dollars to 16 Billion US Dollars yesterday. And, As cryptocurrencies hit the bear market, traders begin to lose hope in market recovery.