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Bitcoin sinks below $ 3.4K, Ethereum plummets to double digits

Friday, December 7 – Crypto markets have again experienced a major decline today, with almost all major currencies losing double-digit per market capitalization. Some coins fall by more than 20 percent, as shown by data from Coin360.

Market visualization

Market visualization by Coin360

Bitcoin (BTC) has reached a steep hit of more than 11 percent on its 24-hour chart and is trading at $ 3,400 from the time of the press. After attempting to win back ground above the $ 4,000 prize in early December – to trade briefly around $ 4,300 – the recovery of the top currency failed, and holdings in the days before the dizzying decline of today suffered a cascading loss.

In the week Bitcoin has now dropped by about 20.5 percent; monthly losses are with a serious 47.3 percent.

Bitcoin 7-day price chart

Bitcoin 7-day price chart. Source: the Bitcoin price index of Cointelegraph.

Second largest crypto per market capitalization Ripple (XRP) decreases by about 12 percent on the day and trades at almost $ 0.30 from the time of the press, according to the Ripple Price Index of Cointelegraph. Ripple's weekly and monthly graphs are also blisteringly red, with losses of approximately 23.5 and 40 percent, respectively.

Ripple 7-day price chart

Ripple 7-day price chart. Source: the wrinkle price index of Cointelegraph.

Third-ranking crypto due to market capitalization Ethereum (ETH) is getting worse, with 24-hour losses that hit 16 percent from the press. The upper altcoin has a double digit value, which is currently traded for $ 84. Ethereum decreased by 31.4 percent in the week; monthly losses are almost 60 percent.

Ethereum 7-day price chart

Ethereum 7-day price chart. Source: CoinMarketCap

Almost all remaining top ten coins on CoinMarketCap are deep red; Stellar (XLM) and Bitcoin Cash (BCH) are both nearly 18 percent lower, at $ 0.11 and $ 102.3 respectively; the eighth largest ranked crypto Litecoin (LTC) is close to 15 percent, trading at $ 25.3, and EOS (EOS) is the hardest hit, nearly 23 percent less than $ 1.68.

Newly split "Bitcoin SV" (BSV) is the only exception in the top ten, rising 20 percent on the day to trade against about $ 109, thus sealing the ranking of the 5th largest crypto. With a market capitalization of approximately $ 1.94 billion from the press, BSV holds a small margin ahead of BCH; the latter, ranked as 7th, currently has a market capitalization of approximately $ 1.77 billion.

Yesterday news broke about a new process by UnitedCorp, a technology developer against Bitmain, Bitcoin.com, Roger Ver, and the Kraken Bitcoin Exchange, which alleged that the suspects were engaged in manipulation and unfair practices during the immediate aftermath of the BCH BSV. fork.

The remaining coins in the top twenty of the market cap all see losses between a range of 8 and 22 percent.

IOTA (MIOTA) dropped 16 percent to trade against $ 0.22: Binance Coin (BNB) dropped slightly less than 20 percent to $ 4.56, while privacy-oriented alts Monero (XMR) and ZCash (ZEC) respectively 14 , 5 and 20 percent lower.

Comparable losses have hit Dash (DASH) and Neo (NEO): with the former down 21.7 percent at $ 61.33, the last 17.4 percent at $ 5.85.

Dogecoin (DOGE), ranked 20th, is the "strongest" 24-hour performer, 2.6 percent less than $ 0.0021.

The total market capitalization of all cryptocurrencies is atca around $ 107.1 billion from the press, about 20 percent less since the beginning of the weekly chart, when it was close to $ 136 billion.

7-day chart of the total market capitalization of all cryptocurrencies

7-day graph of the total market capitalization of all cryptocurrencies of CoinMarketCap

Because the markets are unrelentingly gloomy, the Securities and Exchange Commission (SEC) in the United States has again postponed its decision on the high-profile Bitcoin (BTC) exchange-traded fund (ETF) of investment company VanEck and blockchain firm SolidX.

A new deadline of the end of February 2019 has now been set; SEC commissioner Hester Peirce – who earned the nickname "Crypto Mom" ​​because of her dissenting opinion on the SEC's decision to refuse a Bitcoin ETF, proposed by the Winklevoss twins – told investors this week; "Do not hold your breath" while waiting for a BTC ETF approval.

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