Why Purchasing Cheap Cryptos is The Right Move
As a result of the US Securities and Exchange Committee postponing the decision on the BTC exchange-traded fund, crypto-markets have been on a constant shift. On the 6th of August, the total market cap was placed at almost $254B. Currently, the total cap has dropped by $23B, nine percent to $231B in total.
Bitcoin has also dropped heavily, plummeting 8.11 percent in just one day and currently trades at $6530 on the market. Bitcoin dominance has also climbed to almost 50 percent, pointing to the fact that a few do indeed prefer Bitcoin amidst the current down market and as opposed to selling with USDT.
As for Ethereum, the smart contract leader has dropped around 10 percent and is valued at $369 on the market. This marks the lowest price point for Ether since the beginning of 2018. Currently, upon analyzing XRP, the coin is trading at $0.325 and saw a massive drop of 14.4 percent in the last day. XRP also suffered the same low during the end of last year prior to the massive bull run that landed BTC at $20K and Ripple tokens to almost $4 in price.
Bitcoin Cash is also seeing a drop of 12.32 percent, currently valued at $622 on the market and not much of a difference from its original price upon launch last year. According to CMC, the original price last year was $555 during August. EOS has also suffered from the rest, dropped around 15 percent and valued at $6 on the market. As of now, this may be the right opportunity to collect some EOS due to the whole cryptocurrency environment looking forward to the developments in regards to digital contracts and decentralized apps from the company.
Litecoin is also apparently on an incredible discount as per statements by Mati Greenspan from eToro. As of now, LTC is valued at $66.7 on the market, a price it hasn’t seen since November in 2017. As it happens, the ongoing craze regarding the SEC and its decision to further postpone any approval or rejection of the Bitcoin ETF may provide decent gateways for any new investors looking to jump in prior to the expected bull rally. Additionally, holders have also been heavily impacted by the current plummet of cryptocurrency prices although these hodlers are away that markets will make a comeback and that the current downtime isn’t here to stay.