Yesterday saw Bitcoin (BTC) plummet below the $7,800 area after the OG crypto hit a four-month low on September 24.
Bitcoin price fails to hold onto recovery signs
This week saw Bitcoin (BTC) enter a phase of rampant volatility after it crashed by $1,500 in a day on Tuesday as it hit the $8,000 threshold. After showing signs of recovery yesterday, Bitcoin’s price dropped again after another sharp sell-off from its intraday high of close to $8,600 to as low $7,830 at the time of press.
At the time of writing, bitcoin’s price is down by 4.54% and trading at $8,051.88 as per data from CoinMarketCap.
As per data from Bloomberg, Bitcoin dropped by 9%, trading as low as $7,736 in New York, which is the crypto’s lowest price since May 2019.
Furthermore, the total market capitalization continues to show new multi-month lows across the crypto markets, which is down from $218 billion at the beginning of yesterday to $212 billion at the time of writing.
Altcoin markets waning again
Bitcoin is not the only major crypto to see losses in the red. The altcoin markets are once again enduring a phase of price consolidation. Ether (ETH), the number two crypto is down by 2.54% and selling at $165.41, XRP is down by 1.54%, Bitcoin Cash (BCH) is down by 4.92%, trading at 214.48 and Litecoin (LTC) is down by 3.16% and changing hands at $55.01.
EOS has shed 2.58%, selling at $2.80, Binance Coin (BNB) has shed 3.71%, trading at $15.44, Bitcoin SV (BSV) is down by 3.88%, changing hands at $82.61 and Stellar is down by a modest 0.75% and exchanging hands at $0.058371.
The only top ten altcoin which is seeing a price gain, albeit very modest, is Tether (USDT) which is up by 0.14% and selling at $1.01 per coin.
Be sure to check in again at 14:00 for your daily top ten cryptocurrency news snippers and price updates.