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David Ogden
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Crypto-Market Cap Losses $20 Billion - Bitcoin [BTC] Test $7700 as Alts ETH, XRP, LTC Follow Suit

Published on 6/4/2019
For additional information  Click Here

Crypto-Market Cap Losses $20 Billion - Bitcoin [BTC] Test $7700 as Alts ETH, XRP, LTC Follow Suit

Crypto-Market Cap Losses $20 Billion - Bitcoin [BTC] Test $7700 as Alts ETH, XRP, LTC Follow Suit

Bitcoin [BTC] had a fairly eventful week as the price tested yearly highs but then fell back to fill the gap till $8000. However, on a weekly scale, the closing price near the opening indicating indecision in the market. Jacob Canfield expressed the market sentiments back his TA,

NEW #Bitcoin Analysis – Indecision In The Air At $9,000. – Bearish Weekly Closing – Low Volume On Rally – Trend lines Need To Hold…

With over 55% gain in the last month, the uncertainty has led to a further correction as the price is forming support near $8000. BTC tested a low near $7800 on Tuesday, 4th June 2019. The price of Bitcoin [BTC] at 2: 30 Hours UTC on 4th May 2019 is $7980$. It is trading 6.65% lower on a daily scale.

XRP which was looking to break-out has fallen back to support at $0.41 as well. Moreover, Stellar (XLM) dropped proportionally to Bitcoin as well. The losses in most altcoins are in the 7-10% range, which is affected by BTC.

EOS and Tron rose impressively in the past week, riding on announcement anticipation and development news. The prices of these cryptocurrencies dropped by 11.4$ and 10.2% respectively.

The price of Cardano’s ADA at 3: 40 hours UTC on 4th June 2019 is $0.087. It is trading 8.69% lower on a daily scale.

Cosmos [ATOM] was the only currency trading in the green with over 8.45% rise. The cryptocurrency has gained over 20% since the beginning of June. The price of ATOM at 3: 40 hours UTC is $6.52.

 

Litecoin [LTC] also recorded similar price movements as it touched a high and low of $122 and $114, respectively during the last week. Currently, it is testing support levels above $100. The price of XLM at 3: 40 hours UTC on 4th June 2019 is 103.94.

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