Crypto Market Cap Decreases By $1.6 Billion Over Past 24 Hours
The cryptocurrency industry has demonstrated a downward trend again in the past 24 hours. Its capitalization decreased by $1.6 billion, dropping from $124.8 billion to $123.2 billion. Bitcoin market dominance reached 54.7%, according to the Coinmarketcap charts.
Bitcoin cost has fallen by 0.33% since December 5. At the moment, the asset is traded at $3,870, while its capitalization has decreased from $6 billion to $5.5 billion.
The popular altcoins ether (ETH) and Stellar (XLM) lost over 10% of its value. ETH dropped from $112 to $103, and XLM was down from $0.15 to $0.13. Bitcoin Cash (BCH) declined by 12.24% and reached the mark of $122.71. Other coins from the top 20 cryptocurrencies at Coinmarketcap demonstrate a downtrend from 6% to 0.01%.
Out of the top 20, only two digital currencies have risen in price within 24 hours: Tether (USDT) is traded at $1 increasing by 0.36%, while Bitcoin SV (BSV) has moved up by 4.56% and hit $90.
The crypto analyst Willy Woo put on his Twitter account that the moment when Bitcoin will reach the bottom might be postponed to the second half of 2019. After that, in his opinion, the market will be bullish.
As previously reported, Bitcoin mining difficulty decreased by 15.13% for the first time in a while.