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The bears are back in town.
After a yearlong rally, cryptocurrency markets turned red on Friday as the bitcoin price began, which seems like a significant comeback.
The cryptocurrency stock market plunges 125 billion dollars
The retreat was as hasty as it was complete. Bitcoin has dropped more than 20%, while dozens of altcoins have dropped more than 30%. In total, 98 of the top 100 cryptocurrencies declined against the dollar, and 94 fell by more than 10%.
In the end, more than $ 125 billion worth The market capitalization of cryptocurrency was evaporated in one day, an amount roughly equivalent to the combined value of all cryptocurrencies as recently as in August at the time of writing, the market capitalization Cryptocurrency was valued at $ 513 billion, slipping below $ 500 billion.
The Bitcoin prize plunges to $ 12,000
Bitcoin topped the retreat, as the bull market seemed to collapse with exhaustion following a frantic December rally.
The price of bitcoin fell by more than 20% on Friday, confirming Pantera Capital's founder prediction, Dan Morehead, that the market would see a significant comeback before the end of the year. # 39; year. At the time of writing these lines, the bitcoin price was trading at $ 12,290, according to the CCN Bitcoin Price index placing it at over $ 7,000 under the historic high set at the start. week and reducing its market capitalization to a global average of $ 210 billion.
Although the decline can only be described as grave, It is important Even after this return, Bitcoin exchanges at about the same point as the first week of December and shows a rise of more than 1,100% for the year.
However, this may not be a great comfort to recent investors, many of whom have not yet experienced a real bear market and have become accustomed to seeing highs historical every day.
The markets of Altcoins become crimson
As precipitate as the decline of Bitcoin, it pales in comparison to that of the majority of high-ranking members. During the last day, Altcoin's stock market capitalization fell from $ 80 billion, from $ 362 billion Thursday to $ 282 billion today.
No coin has survived. slaughter, the price of the Ethereum dropped by 28%, while bitcoin money slumped 38% to erase its recent uptrend.
Ripple managed to walk on the water much longer than the other altcoins, but it finally succumbed to the storm, posting a 22% drop on one day, which drove down its price to $ 0.81. That said, the spin-offs were better than those from Litecoin, EOS, Dash, NEM and Monero, each of which has fallen by more than 30 percent for the day.
No coin in the top 10, however, was minted more IOTA, whose price dropped by 42%, which reduced it to $ 2.91 and brought its market capitalization down to $ 8.1 billion.
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