From yesterday, the prices began to drop. Right now, BTC stands at 7994.62 after losing 7.47% of its value over the past 24 hours. Ethereum also lost 7.3% and currently sits at $248.76.
This bearish pressure was felt through the whole market. Aurora and MaximineCoin recorded gains of 10.75 and 7.52 percent respectively. Tether has lost a bit of its price and presently stands at $0.996.
At the moment, the market capital of Bitcoin is holding at 142.2 billion dollars. BSV was one of the few altcoins amongst the top ones who were least affected by the drop. They lost 1.26% of their value.
Will the market recover again? A new weekly low was near $7,643. The decrease was from the $8,578 high to $7,643 low. The $8,400 resistance area and the 100 hourly SMA are close.
Investors should wait and watch how this pans out. The storm shall pass. Then, a proper reaction can yield decent profits. Because the price never stays low for long. This is cryptocurrency after all.