Crypto-currencies had a difficult weekend

Crypto-currencies had a difficult weekend, with 29 of the 30 largest crypto-currencies showing losses in the last 24 hours. The only currency that has faced the storm is the Ethereum Classic, which has gained more than 8% and steem-dollards that rise in arrows.

The Ethereum fell below $ 250

The crypto-currency posted a correction, falling to levels not observed for more than two weeks, reaching just under $ 250 this morning. Despite the price correction, there is good news for the Ethereum community, as the trading volume of the coin exceeded that of Bitcoin over the past 24 hours, reaching more than $ 1.19 billion. The currency was highly volatile, with $ 30 separating the high and low levels this morning. Moreover, it is important to note that, from a more general point of view, the lowest level of today is always higher than any level reached before the first week of June.

Will the reversal of Bitcoin's trend last?

When the Bitcoin reached almost $ 3,000 just two weeks ago, some analysts said the upward trend could last and could even reach $ 4,000 before the end of the month. However, the Bitcoin's chart has been largely down since then, falling below the $ 2,500 mark again. More than anything, last month proved how volatile these financial instruments are, offering many opportunities for day traders, while maintaining levels that make it an investment worthy of interest for traders who have purchased crypto-currency before mid-May

A massive correction in the crypto-currency market

Is the upward trend of crypto-currencies over? As more and more currencies are introduced into the space of crypto-currencies, competition between the different traded tokens increases. However, it is still very common to see market-wide trends, such as those observed in the past 24 hours. Only 1 of the 30 largest currencies, the Ethereum Classic, recorded gains, with the remaining 29 currencies with losses between 2.5% (for the Bitcoin) and nearly 20% (for the IOTA).

• Any trading involves a risk. Risk only the capital that you are willing to lose. The above information does not constitute investment advice.

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credits: Avner Meyrav, les inrocks