• Crypto Lists
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • Altcoin
  • Advertise With Us
  • Join our Telegram Community
Newsletter
ItsBlockchain
  • Bitcoin
    Is the Russia-Ukraine War the Biggest Test for Bitcoin? Market Update

    Is the Russia-Ukraine War the Biggest Test for Bitcoin? Market Update

    Bitcoin ETFs could have the same result as CME group futures launch in 2017

    Bitcoin ETFs could have the same result as CME group futures launch in 2017

    featured image

    How Bitcoin can be hacked?

    keep bitcoin safe

    Keep Your Bitcoins Safe: All You Need to Know About Crypto-Cyberthreats

    featured image

    Bitcoin IRA – Everything You Need to Know

    A trillion dollar tsunami is about to hit Bitcoin

    A trillion dollar tsunami is about to hit Bitcoin

    featured image

    Why Bitcoin will always be the number one cryptocurrency? Explained

    Crypto markets mirror Wall Street’s fall- Loses 100 billion in 24 hours and Delta Plus Variant creates extreme fear

    Crypto markets mirror Wall Street’s fall- Loses 100 billion in 24 hours and Delta Plus Variant creates extreme fear

    On-chain shows Divergence against Bearish Price-Action, But Bitcoin continues to stay in the Re-Accumulation Phase

    On-chain shows Divergence against Bearish Price-Action, But Bitcoin continues to stay in the Re-Accumulation Phase

    Trending Tags

    • Crypto Gems
    • NFT
    • DEFI
    • Crypto Lists
    • Altcoin
    • Crypto Market
    • Guide
    • IBC Capital
    No Result
    View All Result
    • Bitcoin
      Is the Russia-Ukraine War the Biggest Test for Bitcoin? Market Update

      Is the Russia-Ukraine War the Biggest Test for Bitcoin? Market Update

      Bitcoin ETFs could have the same result as CME group futures launch in 2017

      Bitcoin ETFs could have the same result as CME group futures launch in 2017

      featured image

      How Bitcoin can be hacked?

      keep bitcoin safe

      Keep Your Bitcoins Safe: All You Need to Know About Crypto-Cyberthreats

      featured image

      Bitcoin IRA – Everything You Need to Know

      A trillion dollar tsunami is about to hit Bitcoin

      A trillion dollar tsunami is about to hit Bitcoin

      featured image

      Why Bitcoin will always be the number one cryptocurrency? Explained

      Crypto markets mirror Wall Street’s fall- Loses 100 billion in 24 hours and Delta Plus Variant creates extreme fear

      Crypto markets mirror Wall Street’s fall- Loses 100 billion in 24 hours and Delta Plus Variant creates extreme fear

      On-chain shows Divergence against Bearish Price-Action, But Bitcoin continues to stay in the Re-Accumulation Phase

      On-chain shows Divergence against Bearish Price-Action, But Bitcoin continues to stay in the Re-Accumulation Phase

      Trending Tags

      • Crypto Gems
      • NFT
      • DEFI
      • Crypto Lists
      • Altcoin
      • Crypto Market
      • Guide
      • IBC Capital
      No Result
      View All Result
      ItsBlockchain
      No Result
      View All Result
      Home Altcoin

      Why Are The Altcoins Bleeding?

      Ramaa Mohan by Ramaa Mohan
      September 18, 2018
      in Altcoin, Crypto Market, Cryptocurrency, ethereum, Trading
      0 0
      0
      Altcoins Bleeding
      27
      SHARES
      311
      VIEWS
      Share on FacebookShare on Twitter

      The cryptocurrency market this month has touched lows that it never has before. After a quarter of high prices and market capitalisation, the coins are at a loss now, at their lowest points this year.

      Bitcoin, the first cryptocurrency in the world, is also down by a significant amount as it barely hovers over the $6,000 USD mark at $6,003.62 USD. In the past the trend has shown that when the price of bitcoin is in decline, the altcoins follow. However, regardless of the fall that Bitcoin is enduring right now, the altcoins are touching rock bottom.

      Crypto market cap

      In the last seven days alone the price of Bitcoin has gone from $7,100 USD down to today’s $6,003.98 USD. Market specialists are calling the safety line for Bitcoin at $5,800 USD, below which people believe is the game over phase for Bitcoin and the other altcoins. As the market continues hurtling down and with Bitcoin at just about $6,000 the safety line isn’t far away.

      The Altcoins Are Bleeding

      Previously, the well-being of the market depended on how well or how badly Bitcoin did. If Bitcoin prices were up, altcoins would do well and if Bitcoin prices were down, altcoins would follow. But in this crisis, over the last twenty-four hours alone Bitcoin has shown relatively stable in comparison to the altcoins.

      With $20 Billion US dollars being dumped out of the market, all the Altcoins in the market right now are incurring losses between the range of ~5 to 15% with Ethereum, possibly the most stable Altcoin, incurring a loss of 17.09%.

      As the prices of these coins slip further and further down, the market capitalisation of the cryptocurrency market right now, for the first time in the past nine months has sunk below the $210 billion dollars mark and is currently at $191 billion dollars.

      Total Market Cap

      Why is Ethereum Falling?

      For the first time since November Ethereum, the world’s second largest cryptocurrency, has gone below the $300 USD mark and is further plummeting from $264 USD. The altcoin is deemed as one of the most stable altcoins and has major support from the community as it is also a blockchain platform that allows other projects to run on it.

      Despite the large amount of community appraisal and the large number of companies that will face a loss because of ETH’s decline, the coin’s value is still plummeting to the ground. The coin has also suffered a close to 28% loss in the last week. while Bitcoin has pretty much held steady at 10% loss.

      Price of Ethereum

      This fall, however, is not being attributed to the general symptoms of a crashing market. It is, rather, being attributed to the large amount of funds that have been raised on the platform in the name of other projects that are on the platform, running ICOs.

      Specialists in the market are blaming Ethereum’s price decline on the fact that there is a surplus of funds in the coffers of startups and small project companies that are now being sold-off because of fund mismanagement. Many officials from hedge funds and Ethereum platforms have come out and said that this mass-sell off of funds that have been raised during the ICO process is a direct indication of how startups that run ICOs on the platform are inexperienced with how to handle their funds and how they are adding to the fragility of the market when it is already on thin ice.

      Why are the Altcoins Bleeding?

      As to the answer of the question of why the altcoins are bleeding right now, remains speculative, because there is no apparent cause as to why there was a $20 million dollar dump over this week.

      However, one of the most plausible reasons for this decline in the market right now could be because of the technical correction that the market is undergoing right now post price surges on 18th of June. The market’s technical correction is the most apparent reason for the altcoin prices’ decline.

      Further, many investors and specialists in the market are convinced that if this downward trend continues and Bitcoin does, in fact, fall below the all-so-important safety line of $5,800 USD, it really might be game-over for the market. But on the bright side, the cryptocurrency market has recovered from worse and it may just see gains again after the market correction is complete.

      The Silver Lining

      Every cloud has its silver lining and this massive storm cloud is no exception. With the large amount of instability in altcoins prices and trends,people are clinging on to Bitcoin more because of its apparent stability throughout this crisis.

      Owing to this reason, Bitcoin’s market dominance is up to 50% now and is only expected to go up with times if the altcoins’ downward trend continues.

      But whether this trend is here to stay or is just a blip in the market’s story remains to be seen and the next forty-eight to seventy-two hours will be the deciding hours that determine what the cryptocurrency trend lines for the next quarter are going to look like.

      Also, read: Top 6 Crypto Trading Strategies

      IBC-Transparent-Logo-(1)

      Subscribe To Our Newsletter

      Join our mailing list to receive Cryptocurrency investing and trading recommendations to your mailbox.

      You have Successfully Subscribed!

      Share10Tweet6Share3

      Subscribe to get notified on latest posts.

      Unsubscribe

      Related Posts

      EIP-4844 Explained | The Biggest Ethereum Upgrade

      EIP-4844 Explained | The Biggest Ethereum Upgrade

      by Aniketh Paul
      February 7, 2023
      0

      EIP 4844 is going to be the biggest ethereum upgrade for 2023, In this article we have explained it in...

      RINO Enterprise Wallet launches free Community Edition

      RINO Enterprise Wallet launches free Community Edition

      by Hitesh Malviya
      January 14, 2023
      0

      RINO, an enterprise-focused Monero Wallet, has recently launched a free Community Edition that allows everyone to benefit from some of...

      A Dummy’s Guide to Ethereum Rollups

      A Dummy’s Guide to Ethereum Rollups

      by Aniketh Paul
      November 30, 2022
      0

      (In this Guide, We've explained Ethereum Rollups, How they can scale Ethereum, and their different types.) https://www.youtube.com/watch?v=QWxnzr6eNm4 ROLLUPS EXPLAINED Ethereum...

      Learn How to Find Undervalued Coins

      Learn How to Find Undervalued Coins

      by Aniketh Paul
      October 29, 2022
      0

      Let's Learn How to Find Undervalued Coins using an amazing fundamental research tool called token terminal. Many times people judge...

      Top 5 upcoming Token Airdrops (Step-by-Step Guides)

      Top 5 upcoming Token Airdrops (Step-by-Step Guides)

      by Aniketh Paul
      November 22, 2022
      0

      Token airdrop is the new trend in the market that is popping up in popularity after Aptos Token Airdrop Event....

      Load More

      About Us

      We curate the best cryptocurrency projects with the intention of adding value for investors through the process of selecting, organizing, and looking after different projects available in the cryptocurrency market.

      • Trending
      • Comments
      • Latest
      Top 5 upcoming Token Airdrops (Step-by-Step Guides)

      Top 5 upcoming Token Airdrops (Step-by-Step Guides)

      November 22, 2022
      featured image

      List of leading partners of Ripple, and How they use XRP?

      February 2, 2021
      featured image

      Top 3 Coins That Have Outperformed Bitcoin This Year

      April 26, 2020
      binance exchange safe

      How Safe is Binance Exchange

      August 21, 2020
      Top 10 Ways to Make Money in Crypto

      Top 10 Ways to Make Money in Crypto

      October 19, 2022
      Top 10 Cheap Cryptocurrencies with Huge Potential in 2021 | Best Penny Crypto Coins

      Top 10 Cheap Cryptocurrencies with Huge Potential in 2021 | Best Penny Crypto Coins

      May 27, 2021
      Binance

      Sequoia Capital is Suing Crypto Exchange Binance

      March 12, 2020
      EIP-4844 Explained | The Biggest Ethereum Upgrade

      EIP-4844 Explained | The Biggest Ethereum Upgrade

      February 7, 2023
      What Blockchain Can Learn From Barnes & Noble and the Jacksonville Jaguars

      What Blockchain Can Learn From Barnes & Noble and the Jacksonville Jaguars

      January 17, 2023
      RINO Enterprise Wallet launches free Community Edition

      RINO Enterprise Wallet launches free Community Edition

      January 14, 2023
      Top 5 DeFi Projects on Tezos

      Top 5 DeFi Projects on Tezos

      December 26, 2022
      Modular Blockchains: The Next Big Thing in Web3

      Modular Blockchains: The Next Big Thing in Web3

      December 12, 2022
      A Dummy’s Guide to Ethereum Rollups

      A Dummy’s Guide to Ethereum Rollups

      November 30, 2022
      Tezos Blockchain is Always Under the Radar but Continues to Excel

      Tezos Blockchain is Always Under the Radar but Continues to Excel

      November 22, 2022
      • Top 10 Cheap Cryptocurrencies with Huge Potential in 2021 | Best Penny Crypto Coins

        Top 10 Cheap Cryptocurrencies with Huge Potential in 2021 | Best Penny Crypto Coins

        29620 shares
        Share 11837 Tweet 7398
      • A Mysterious Bitcoin Whale who sold 3000 Bitcoins at 58K$, Bought back 3521 Bitcoins in the last three days

        9925 shares
        Share 3969 Tweet 2481
      • Top 10 Low market cap altcoins to invest in 2021

        7260 shares
        Share 2902 Tweet 1814
      • Top 10 NFT Crypto Projects You Should Know

        7258 shares
        Share 2620 Tweet 1638
      • List of leading partners of Ripple, and How they use XRP?

        6047 shares
        Share 2418 Tweet 1512
      ItsBlockchain

      We are India’s first and oldest Blockchain & Cryptocurrency publication platform started in 2016. We are a one-stop destination for technical analysis, cryptocurrency recommendations, and Blockchain technology resources.

      Buying Guides

      • Buy Bitcoins in India
      • Buy Bitcoins in China
      • Buy bitcoins in Russia
      • Buy Bitcoins in Japan
      • Buy Bitcoins in Turkey

      Important Links

      • Home
      • About US
      • Privacy Policy
      • Promote Your ICO
      • Submit post

      Follow Us

      Contact us

      support@itsblockchain.com

      © 2020 itsblockchain.com - Designed and maintained by Fanatic Coders

      No Result
      View All Result
      • Bitcoin
      • Crypto Gems
      • NFT
      • DEFI
      • Crypto Lists
      • Altcoin
      • Crypto Market
      • Guide
      • IBC Capital

      © 2020 itsblockchain.com - Designed and maintained by Fanatic Coders

      Login to your account below

      Forgotten Password?

      Fill the forms bellow to register

      All fields are required. Log In

      Retrieve your password

      Please enter your username or email address to reset your password.

      Log In
      This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.