It has arguably been a volatile and disappointing 24 hours for digital currencies after managing to push higher in Asia; the virtual token market has given away gains and more in a short period. The top 3 digital currencies suffered setbacks as well as the top ten. The current state of things has reduced the digital currency market value to 426.4 billion USD as reported by Coin Market Cap.
Here's What We Know
Price Analysis For Bitcoin
The price of Bitcoin is down by 1.8% in just the last 24 hours, and it's currently trading at 9,124.71 USD per digital coin. This has ultimately reduced the world’s largest crypto token's market capitalization to under 155.4 billion USD. Despite the fact that a crypto expert told CNBC that Bitcoin has the potential to hit the 64,000 USD mark next year, the digital token has not been able to break forth its bearish trend in recent days.
Price Analysis For Ethereum
Ethereum's price has fallen by 1.5% within the last 24 hours to 739.29 USD, taking Ethereum’s market cap down to under 74.5 billion USD. As reported by the Independent, one digital currency expert thinks this trend could change, soon though. The expert has predicted that Ether will be the most valuable cryptocurrency in the world by market cap before the year runs out.
Price Analysis For Ripple
Ripple’s price has continued to slide down to 3% in 24 hours to trade at 0.781 USD. This has cut XRP's market cap to 30.6 billion USD. Ripple's price has suffered pressure despite receiving positive results following its pilot trials for cross-border fund transfers.
Outside the top three digital currencies, it was a similar situation regarding trading in the cryptocurrency market with sizeable declines seen for Bitcoin Cash, Litecoin, Cardano, Stellar, IOTA, and TRON. Each of these virtual currencies was down by at least 3.5% in the last 24 hours with IOTA been the worst performer over this period after suffering a 5% decline.
Posted from my blog with SteemPress : https://smartereum.com/14039/crypto-market-update-bitcoin-ethereum-and-ripple-slide-lower/