Volume Of Crypto Market Capitalization Is Corrected
Bitcoin and other cryptos are regaining their positions in the market after a significant correction on August 4.
After overcoming the $8000 mark on July 24, the price for the first cryptocurrency remained stable for a week, according to CoinMarketCap. On August 1-2, the first correction took place, when BTC value dropped to $7504. The second adjustment happened on August 4, and the next day the price for bitcoin fell below $7000 to $6941 at 14:49 (UTC) for the first time in the last few weeks. The bitcoin price is $7107 as of August 6, 07:19 (UTC).
Bitcoin’s 24-hour price chart (source: Cointelegraph Bitcoin Price Index)
To a lesser extent, the market has affected the ether, the price for which has been fluctuating around $400 during the last week. According to the CoinMarketCap data on August 6, 07:19 (UTC), the ETH price is $411. Other top ten cryptocurrencies are in the green zone, showing growth over the past day from 0.5% to 5%, except for IOTA (MIOTA).
Ethereum Classic (ETC) showed significant growth among the first twenty cryptocurrencies in terms of market capitalization. Probably, this is due to the upcoming August 7 ETC listing on Coinbase, the largest American exchange. The Ethereum Classic price was $17.48 on August 6, 07:19 (UTC).
The total crypto market capitalization was more than $255 billion on August 6 at 07:18 (UTC). However, the market lost about $50 billion compared with the week-old indicators.
As previously reported, well-known billionaires predicted that bitcoin might cost up to $40-50 thousand.