Wednesday 7 February 2018

The bitcoin lost $72 billion in 2018

The bitcoin continues to be the largest crypto currency by market-capitalization, but its domination is seriously threatened after the recent price collapse. Only last week the bitcoin lost more than $1,000 of its value, dropping at levels of less than $9,000 per coin.
In fact, the bitcoin breached the key support level of $9,150, which may trigger further downsizing of the currency.
The next key level of support is $7,600, where there is the 61.8 percent fibonacci correction of the March increase last year to over $19,500.
If the last level drops, then we can see a further decline in the currency to the 50-day moving average, which is at $5,300.
The market capitalization of the bitcoin is at a level of $ 150 billion, which is 33.6% of the total market capitalization of all cryptocurrencies. The latter is at a level of $456 billion, or about half of its peak, at over $850 billion.
Not only does the bitcoin record serious losses. The ripple returned to trading levels below $1.
However, the ethereum remains the least affected by the sale. The cryptocurrency continues to trade over $1,000 per coin, or just 20% below its historically highest value. By comparison, the ripple lost over 70% of its top, and the bitcoin over 50%.


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