Bitcoin Trades Sideways After Rejection at $8200

//Bitcoin Trades Sideways After Rejection at $8200

Bitcoin Trades Sideways After Rejection at $8200

Over the weekend, Bitcoin made a shock recovery from a dip last week that saw prices plunge by 10%, wiping off roughly $1000 from its value.

However, the recovery which saw prices bounce back above $2000 met stiff resistance at that critical point with the major cryptocurrency meeting rejection each time it tried to stay above $8000.

In the end, Bitcoin failed to overcome the resistance and tumbled hard to $7686.In the hours leading up to press time, Bitcoin has traded sideways with price ranges $7900 to $7800 with a market cap just less than $141 billion.

ETH/USD

After an impressive performance, last week took Ether (ETH) from its bear market slump to prices well above $200, the altcoin has struggled to gain momentum on the daily trading charts, posting loss similar to Bitcoin’s.

ETH press time value of $250 means a mere 2% loss with its market cap at $22.6 billion.

XRP/USD

As you would expect, Ripple’s XRP token is not immune to the minor market downturn with losses on the daily trading charts at press time standing at 2.8%. XRP’s market value of $0.39 also marks a $0.7 loss from the 0.46 value the altcoin posted in the wake of the mini-bull run last week.

The altcoin’s market cap at press time was $16.7 billion, $9 billion more than next placed altcoin, Bitcoin Cash.

BCH/USD

Bitcoin Cash holders were also handsomely rewarded by the mini-bull run and looked set to explode, posting prices last seen before the full bear market set in November 2018. However, the coin’s growth witnessed a loss alongside the rest of the market with its press time value of $407 marking a 2% decrease in the last 24-hours

The total market cap of all cryptocurrencies.— $244 billion

AddissonChurchill

By | 2019-05-20T17:05:42+00:00 May 20th, 2019|Cryptocurrency|0 Comments
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