The bitcoin rate dropped to $ 3590. The crypto market has experienced a moderate decline
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Over the past 24 hours, the cryptocurrency market experienced another decline, as a result of which its capitalization decreased by 3.8%, and the bitcoin price dropped to $ 3590.
In the second half of Sunday, there was a sharp collapse of the crypto market, reducing the total capitalization from $ 124.2 billion to $ 119.5 billion, but this is still almost $ 2 billion more than last Monday. Over the past 24 hours, the bitcoin (BTC) rate has fallen by 3.78% and at the time of this writing is $ 3595. Although the current value is still relatively far from the December low, and the current value is even slightly higher than exactly a week ago. Some analysts say that in the absence of significant positive developments, investors are waiting for another powerful rebound to enter the market..
Altcoins also showed a moderate decline. Most cryptocurrencies have lost 3-6% of their value. During the day, the ripple rate (XRP) decreased by only 2.77% and is $ 0.321. Ethereum (ETH) against the background of the next transfer of the hard fork, the project suffered a more significant loss of 5.58% and is now trading at $ 117. Bitcoin Cash (BCH) and EOS Prices Drop 5% & 4.7% up to $ 123 and $ 2.36 respectively.
By the end of the week, the situation on the virtual currency market improved slightly, although there is a general sideways movement and an increase in volatility. Alexey Kiriyenko, Managing Partner of EXANTE, believes that in general, today’s levels are very attractive for entry, because the market has lost 90% of its capitalization. All this money has not gone anywhere, most of it is waiting for a new entrance. Adding that 2019 will feel like halving is approaching, starting in the summer, when active discussion will drive the price up..
The long-term success of a cryptocurrency largely depends on its technical capabilities, so our columnist Dmitry Tokarev analyzed the activity of teams of leading projects at Github.
text: Ivan Malichenko, photo: istock, graphic: coinmarketcap