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Bitcoin Drops to $18,000, Altcoins Lose $80 Billion

Bitcoin Drops to $18,000, Altcoins Lose $80 Billion

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Answer Bitcoin Drops to $18,000, Altcoins Lose $80 Billion

Bitcoin price moved and took another turn for the worse in the past 24 hours, as Bitcoin’s drop hit a multi-month low at $18,400.

Altcoins are looking worse, posting huge double-digit losses.

Bitcoin drops to $18 thousand levels:

A little over a week passed when the biggest cryptocurrency was on the rise, as Bitcoin approached $23,000.

This price represented a peak for several weeks, but the currency failed to stay there for long.

With the release of the US CPI figures, the price of Bitcoin dropped to $20,000.

A day later, Bitcoin has already suffered below this desirable psychological level.

The weekend came with a bit of calm and positivity, as Bitcoin reclaimed the $20,000 level on Sunday.

Read:Ripple Releases 1 Billion XRP From Its Escrow Account…Details Here

The landscape has changed in the past 12 hours.

Bitcoin has started to sink again, first Bitcoin fell below $19,000 and later to a three-month low – at $18,400.

As such, the market capitalization of Bitcoin has fallen to $350 billion and the dominance of altcoins has surpassed 39%.

Altcoins are colored red:

Altcoins also posted some gains yesterday, but now the situation with them is worse.

Ethereum is among the poorest performing cryptocurrencies, contrary to what many expected after the merger.

The price of Ethereum hit $1,600 last Thursday when the transition from PoW mining to PoS mining was completed, but the coin’s price dropped to $1,500 after that.

Now, Ethereum is struggling to reach the $1,300 level after another daily drop of 11%.

Ethereum has fallen in value by more than $300 since the merger upgrade happened.

The rest of the alternative digital currencies with a larger market value are also suffering, as most of them declined in varying proportions.

Bitcoin Drops to $18,000, Altcoins Lose $80 Billion

With the high volatility and the recorded decline, the crypto market lost more than 80 billion dollars in the last 24 hours, and the total value of the market fell to the level of 900 billion dollars, according to coinmarketcap.

Read:Find out how many bitcoin addresses now have non-zero balances

Read also:

The expected upgrade of the Cardano network “vasil” enters its final stage…details here

Here is what the founder of the Terra project had to say about the rise in the price of the digital currency LUNC


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