Crypto Market Capitalization Aligns By 17% For The Last Week
Total crypto market capitalization has been adjusted by $44 billion or 17% over the past week. It was $258.9 billion on Monday, August 6 at 04:37 (UTC), then on August 13 at 04:07 (UTC), it dropped to $216 billion, according to CoinMarketCap.
The value of the first 10 cryptocurrencies was also adjusted. Bitcoin lost up to 10% in one week; at 07:05 (UTC) it amounted to $6.440. Even Ethereum has significantly lost, which for last week was adjusted by 22.5%; its cost was $320 at 07:07 (UTC). Besides, another cryptocurrency of the trio Ripple has lost in price by more than 30%; at 07:07 (UTC), it equaled $0,303. Stellar and Tether, which occupy the 6th and 8th positions respectively, experienced the greatest fluctuations in the first ten.
Recent optimism of cryptocurrency market analysts has switched to cautious forecasts, when on 24 July Bitcoin surpassed the $8000 mark and remained steady for a week. Since then there have been several corrections of the first cryptocurrency's price, until it reached the level of August 13.
Specialists note that investors are still reluctant to invest in Bitcoin, which pulls back all the other most liquid cryptocurrencies. It is unlikely that such a recession will last for a long time for many leaders of the cryptosphere systems provide optimistic forecasts of the cost of Bitcoin amounting up to several tens of thousands of dollars in the next 12-18 months.
Only Bitcoin, Stellar, and Cardano are in the green zone in the first ten for the last day, and all the others demonstrate negative indicators.