Cryptomarkets Drop an Additional $10 Billion

Bitcoin, among other major cryptocurrencies, has seen a drop this week prompting markets to remain in the current bearish atmosphere.

Rolling Back

After this week’s closing, the cryptocurrency market failed to claw past the $270 billion mark, and all cryptocurrencies have seen a roll back towards the $260 billion total cap. Bitcoin also saw a two percent drop back to its $6,560 price after struggling to acquire new buyers, potentially dropping even lower to $6,400. Ethereum has returned to a $460 standing given its 3.2 percent drop.


Bitcoin and Ethereum aren't the only two currencies to see losses. All alternative coins have hopped onto the bearish outlook, dropping further than the major cryptocurrencies. Four of the top 10 altcoins have taken the biggest hit so far, with EOS, BCC, Iota, and Cardano seeing drops at around seven percent.


Neo has also stumbled back down to $37.50 despite maintaining a bullish attitude in the days leading up to its up drop. Among the 20 leading alternative coins, Tron VeChain saw the biggest losses at an eight percent drop.

Not A Complete Loss


Given this week’s bearish performance, a few currencies have seen gains. Ethereum Classic saw a small win with a one percent increase alongside Augur, while Kucoin has reported a five percent gain.


The total market cap has dropped around $10 billion back to the $260 billion line and Bitcoin remains as the leading currency hovering at around 42-43 percent in trading volume which has remained steady to this point at around $15 billion.


The digital currency market has seen an overall gain of 11.6 percent in total, while the $260 billion mark has become the support line and could result in even more losses if it drops past the marker.


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