Cryptocurrencies are going down... What may signal a recovery?
Bitcoin keeps to $6,500
On Friday, Bitcoin was mostly intact.
Altcoins have bounced in the range of over 30% this week. As for Bitcoin, this popular crypto asset has been fluctuating around $6,500. The currency pair BTC/USD hit $6,648.16, diving by 0.6% on the Kraken exchange.
Notwithstanding some relief, the quarter three performance still appears to be dismal.
While most of these tough losses were generally experienced in the first quarter of this year, when the market cap for all crypto assets went down by more than $300 billion, the third quarter hasn’t been anything special for crypto holders.
Since July 1, 7 of the 10 biggest crypto assets proceeded with their dives. Ether turned out to be the top loser, slumping by 50.4%. Additionally, at its lowest point, the crypto asset, running on the Ethereum blockchain, headed south by 90% from its all-time maximum, thus surrendering second place on the list of top crypto assets to XRP that appears to be the second best performing key digital coin of the third quarter.
As for the the two other crypto assets in the green for the quarter, they are Steller that rallied by 31.1%.and Bitcoin, which surged by 3.8%.
By the way, since July 1, the overall market cap for all crypto assets has slumped over $30 billion to about $221.7 billion. That’s what CoinMarketCap informed.
On Friday, altcoins generally underperformed.
On Friday, volatility of altcoins continued, with all crypto assets underperforming the most popular digital coin - bitcoin. The currency pair ETH/USD declined by 1.7% hitting $228.80. As for Litecoin, the currency pair LTC/USD lost 3.1% being worth $62.22. Moreover, the currency pair BCH/USD slumped by 2.9% hitting $546.40. The currency pair XRP/USD reached 53 cents, losing about 3%.
As for Bitcoin futures, they concluded the trading session down.
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