After what seemed like a dream run for BTC, the crypto has suddenly hit a significant roadblock. Just when the market was thinking that BTC’s trajectory these last couple of weeks is too good to be true, turns out, it was indeed.
BTC has currently gone under $11,000, which is unfortunate considering it had risen to the heights of $13,000. Additionally, most other altcoins are currently experiencing double-digit losses.
At the time of writing, Bitcoin is trading at $10,398 and it looks like the crypto is going to tumble down further. It is recording losses of 7.76% and every minute the number keeps rising.
Ethereum is currently trading at $286.44, recording a loss of just under 5%. Other altcoins such as Bitcoin Cash, EOS and Litecoin are all in the red.
This sudden downfall in the prices might trigger a major pump and dump panic which will severely detrimental for the crypto market.
As you can see above, the market is bleeding quickly and if something doesn’t turnaround soon, it is just going to keep getting worse.
Although BTC dominance continues to remain steady, the market is losing a lot of ground. It seems as if the a=only other crypto that has seen some gains is Ren, which recorded the highest earnings today with gains exceeding 20%.