All good things come to an end. A saying everyone has heard, but it is especially relevant in the cryptocurrency industry. The recent bull run caused Bitcoin to touch $13,000 and talks about Bitcoin touching $20k were echoing in the community. But something which no one expected was the markets suddenly crashing.
The crash was triggered by a slowing of gains in the alts section, particularly Litecoin and XRP. They were the first alt coins to slow down. Soon after, other alts followed suit, with major alt-coins such as Tron, Stellar, Cardano all slowing and then suddenly crashing.
But during the alts-crash, Bitcoin and Ethereum were going up with Ethereum touching $340 and Bitcoin touching $13,000 once again. But Bitcoin and Ethereum couldn’t keep much longer and crashed as well. According to traders and analyst, this crash is only temporary as the charts resonate the 2017 all-time high charts.
Damage
Bitcoin is currently trading at $11,711 with an 8.35% drop in the past 24 hours. Alts such as Ethereum, Litecoin, XRP and Tron all have double-digit losses. Ethereum and Tron are down by 11% & 12% respectively and are trading at $305 and $0.03 respectively.
Litecoin and XRP are down by 15% and 13% respectively. They are currently trading at $115 and $0.422 respectively.
Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity
Did you like the news you just read? Please leave a feedback to help us serve you better
Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.
