$42 Billion Cryptocurrency Market Loses in 3 Days!
Cryptocurrency Market Loses $42 Billion in 3 Days as Tokens Struggle!
The cryptocurrency market has dropped by more than $42 billion in the last three days, from $412 billion to $370 billion. The daily trading volume of the market also declined by around $3 billion, from $22 billion to $19 billion.
Poor Conditions.
Earlier today, on May 18, the bitcoin price dipped below the $8,000 mark, entering the $7,000 region for the first time since mid-April. Traders that expected the Blockchain Week in New York and the Consensus 2018 event, the largest cryptocurrency conference in the world, to push the cryptocurrency markets upwards throughout May. However, the downtrend of bitcoin after falling below a key resistance level at $8,200 was too strong for bitcoin to regain any sort of momentum and immediately bounce back.
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