Bitcoin falls | The exhaustion of the bull market in the Bitcoin market could affect all crypto currencies in general. All top 100 crypto currencies by market capitalization are in the red according to CoinMarketCap data.
Bitcoin falls, what is behind it?
Bitcoin (BTC) has fallen by over 8 percent in the last 24 hours. This is shown by the bearish reverse pattern on the daily charts and the head-and-shoulder breakout on the hourly chart.
At the time of release, BTC had fallen to $9,958 – a 16.72 percent drop from its high of $11,958 on the 20th.
As described above, Bitcoin Cash (BCH), which has fallen 10.58 percent in the last 24 hours, is the biggest loser among the top 10 crypto currencies. It has dropped 24.11 percent from the current high of 1,641.40 dollars. The rise of the crypto currency was interrupted by key resistance at $1,533.
Ripple has formed five new partnerships in four countries
In addition, the San Francisco-based start-up has published white papers indicating an upgrade to XRP’s underlying technology. However, today’s decline suggests that the good news has been ignored by the markets or overshadowed by widespread crypto losses.
As mentioned earlier, the few tokens currently rising are all outside the top 10, including small caps like Nano (8.15 percent in the last 24 hours) and Dentacoin (plus 2.48 percent).
The total value of all crypto currencies together is $445 billion – just under 15 percent below the peak of $519 billion on February 18. But still 61 percent above the February 6 low of 276 billion dollars.