The week of January 17 saw transactions volume of Bitcoin drop by 3.94% to 763,000 BTC, while the value of the asset dropped 2.57% to $984. The total market cap of cryptocurrencies, which stood at $1.4 trillion on January 17, has dipped to $1.3 trillion, which is the lowest since the beginning of April 2018.
Bitcoin transactions have appeared in six of the seven days of this week, which may seem like a good thing for the cryptocurrency. However, the numbers are showing that the crypto market has lost around $300 billion since this time last week, as the cryptocurrency market continues to fall.
Cryptocurrency markets have experienced a significant drop in price in the last few days, and the slump has continued to worsen. BTC has lost around ~$300 billion in market cap in the last week, with altcoins like ETH, LTC, and BCH also falling below their all-time highs. The price of BTC has dropped further over the last 24 hours, in a state of sideways trading lately. The 24-hour trading volume is under its weekly average, and the $10 billion market cap is down ~20% from its peak.. Read more about bitcoin price and let us know what you think.
The entire crypto currency market is back in bearish territory, and the reason for this bearish market behavior is the world’s largest digital currency by market value, Bitcoin (BTC), which has lost a lot of value recently. The recent collapse in the prices of major cryptocurrencies has resulted in a loss of $200 billion in market capitalization of the entire cryptocurrency market. Meanwhile, bitcoin transactions are also at their lowest point in three years. The leading digital currency saw its price plummet in April, when bitcoin’s value fell below the psychological mark of $30,000. Since then, the royal cryptocurrency has tried to gain momentum, but has failed each time. The value of BTC is about to leave the critical support around $30,000. At the time of writing, bitcoin stands around $32,000, with a negative change of -10.36% over the past 24 hours. Due to this downward movement of the flagship crypto-currency, BTC transactions have also fallen, with the value nearing a 3-year low. The 30th. In May, the number of BTC transactions appeared to be below 175,000. On the other hand, the recent plunge in bitcoin prices has significantly reduced the overall value of the cryptocurrency market. The total market capitalization would have lost $300 billion in one week. At the time of publishing this article, the global digital currency market stands at approximately $1.50 trillion, down 11.02% over the past day.For the first time in history, Bitcoin transactions have dropped below $1 billion, a rare and notable milestone that, despite the sub-$400 billion market cap, indicates that cryptos are still in a healthy state. But this is not the end of it. This is only an indicator that we have reached the lowest point from which we can start to recovery. While the market cap has fallen hard, the value of BTC has been steadily rising and is trending upwards, approaching the important $10,000 mark.. Read more about bitcoin price history chart and let us know what you think.
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