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Bitcoin Price Falls Below $7,500, Down 42% Since Start of the Year, more to go?

 

On Wednesday also the market is on its bearish stage as the market has seen a great loss that has been varied from the high single digits to double digits in cases. Bitcoin is the plays the main role in this bearish slump where it has diminished down by 8% to the $7,545 level on Bitfinex at around 0800CEST.

Although the cryptocurrency market has shaken off the bear from last two months which is adversely affecting the cryptomarket, these recent developments have shown that this is not yet the case. “Yesterday the Bitcoin was trading around $8,100 level but after dropping below the $8,000 mark, it rapidly careened down from $8,000 to $7,700 and then $7,500 mark at one point, then it stopped at 7,500 daily it is diminishing and finally stopped at 7,500″.

Bitcoin Cash has considerably suffered a lot as the bearish market but the fall in Bitcoin is not that huge as it has been observed in other altcoins. The cryptocurrency is having certain 6th drop down today, which was trading around the $750 mark – a drop of 6% seemed to be interested in the coin as turnover is considerably here whereas Ethereum has slowly progressed because of its “fall down even after the positive pronouncements by Vitalik Buterin and was trading at the $420 mark or a decline of 7% with turnover second highest below Bitcoin but still in bearish sentiment”.

The drop recovered by Bitcoin and Ethereum but Ripple still continued to decline and will reach further yearly than other altcoins, the news stated on Wednesday at former US President Bill Clinton would be addressing a Ripple conference could perhaps boost interest in the currency which is badly in need of a good run of late. Litecoin suffered a 5% drop to the $77 level whilst Stellar lost a similar amount to trade at the $0.27.

Small cryptocurrencies have also suffered from it Cardano was also down to the $0.14 level whilst IOTA and Ontology suffered declines of 5 and 12% respectively. Tron was another currency which suffered huge losses in the past few days with its price down by around 20% over 48 hours to the $0.033 level.

 

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