Crypt Market Cap Below $1T, Bitcoin Fights for $20K (Weekend Watch)

Bitcoin has fallen to $20,000 yesterday, and it is now struggling to stay above this coveted level.

Altcoins suffered a lot at the beginning of the weekend. Most sit now calmly.

Bitcoin Fights For $20K

The primary cryptocurrency suffered particularly from the week before, when it dropped by $4,000 in seven days, to a low of $21,000 per month.

The asset traded sideways for most of the week, spending most of its time at that level. The biggest price swing occurred on Thursday, when the asset attempted to reclaim $22,000 but was stopped.

It had even more severe consequences after Fed Chair Jerome Powell reiterated central bank’s position on fighting inflation. BTC plunged more than a million dollars in a matter of hours.

Yesterday morning, bitcoin plunged below $20,000 for its first time since July. It has not been able to recover more than a few hundreds dollars since then and is now just above that line. This means that its market capital has remained below $400 billion.

Cryptocurrency Market Overview. Source: Quantify Crypto
ltcoins Sit tight

Alternative coins were just as affected as BTC yesterday, if any, but they have remained stable since then.

Ethereum fell below $1,500 over the last 24 hours but is still around that level. Notably, Ethereum, the second largest crypto, had risen above $1,700 a few days back, but there were warning signs that something similar could occur in the near future.

Binance Coin fell hard yesterday, and today, after another minor drop, is trading at $280.

Avalanche, Solana and Dogecoin are all slightly in the red, as are Cardano and Polkadot.

After losing $80 billion yesterday, most of the crypto market cap is still below $1 trillion.

Cryptocurrency Market Overview. Source: Quantify Crypto

CryptoPotato’s first post, Crypt Market Cap below $1T, Bitcoin Fights For $20K (WeekendWatch), appeared first on CryptoPotato.

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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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