Bitcoin Value Continues To Decrease, Other Altcoin Follow Its Lead

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Umme Haani
Vinayak Buckshee is a writer for Thecoinrepublic. she contributes a researched piece on cryptocurrencies and updates. Umme is an aspiring engineer who immensely enjoys writing and technical writing brings the best of both worlds under one roof for her.

Bitcoin and the crypto market cap are facing many important hurdles on the upside. Ethereum (ETH), binance coin (BNB), BCH, Tron (TRX), ripple, litecoin, and EOS might struggle to correct higher. Bitcoin (BTC) and all significant altcoins are deep in red, nursing losses from 1% to 8%. UNUS SED LEO (LEO) and EOS. These three coins managed to stay in a green zone so far.

The total capitalization of all digital assets in circulation dropped to $266 billion from $275 billion this time on Tuesday. The total trading volume is registered at $59 billion, while Bitcoin’s market share has settled at 65.0%.

Top-4 coins price overview

Bitcoin (BTC/USD) there was a slow and steady recovery in BCH price above the $300 level against the US Dollar. The BCH/USD pair even managed to surpass the $310 resistance level. It seems like the price is now slowly climbing towards the next key resistance at $320. If there is an upside break above $320, the price could continue to rise towards the $350 level. If the price fails to continue higher, it could decline once again below the $300 support level in the near term.

Ethereum, the second-largest digital asset with the current market capitalization of $22.0 billion, is down 4% on a day-on-day basis and down 3% since the start of the Asian session on Monday. ETH/USD tested $200.00 support during early Asian hours. At the time of writing, it is changing hands at $211.00.

Ripple’s XRP stays above critical $0.3100, though it is down both on a day-on-day basis and since the beginning of Wednesday. Ripple’s current market capitalization is registered at $13.1 billion, while an average daily trading volume comes at $1 billion.

Litecoin (LTC/USD) dropped below critical $90.00 amid intense bearish pressure. The fourth-largest coin with the current market capitalization of $5.6 billion has lost 3.5% of its value to trade at $90.50 by the time of writing.

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