$10 Billion Wiped from the Market as Major Asset Struggle to Maintain Momentum
Despite a strong start to the month, the digital assets market has taken a significant loss over the last 24 hours, seeing its total market capitalization fall from $211 billion to just $200 billion as major cryptocurrencies struggle.
Since the beginning of November, the market saw an impressive run, witnessing an almost 10% improvement over the first week of the month. However, after reaching a peak of almost $220 billion just last week, the market has been on a downtrend, losing over $20 billion in total, and more than $10 billion in the last day alone.
As of writing, Stellar, Ripple and Cardano have suffered losses of around 8%, whilst Bitcoin Cash has suffered the heaviest blow, losing a staggering 27% in the last week as investor remain divided regarding its looming hard fork.
During the bloodbath, Bitcoin has remained relatively strong against the competition, losing just 4% over the past day. It remains unclear what caused the dump, but it appears that a retest of the $5,800 support may be incoming for BTC.
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Hi whaleagent, great post.
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I did not see the dip coming. It caught me off guard with BTC being so stable this last month. Had to take the opportunity and purchase it at the 5600 level.
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