This Friday, the crypto news show that the market is again hit by a new plunge where virtually all of the top 100 cryptocurrencies were in the red as the strike hit and many high market cap altcoins are finding it hard to recover. The losses vary from 5% to 12% on most of the cryptocurrencies with Bitcoin leading the way with a new 3.45% drop that took its price to $3,670 which is a new low this week.
Bitcoin Cash (BCH), which we reviewed as the top performer in the market last week, was actually leading the downturn with a steep 12.15% loss on the day and now trading at $126. The altcoin’s 7-day chart also shows that BCH was once trading over 0.
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Bitcoin (BTC), on the other hand, has seen a more moderate loss of around 4% on the day but managed to recover to $3,670 and trade close to its value mid-December. Bitcoin’s losses remain a mild 2.4% on the week and 3.6% on the month.
Ripple (XRP) is down over 5% on the day according to the price index, and is now trading at $0.34 losing its highs at $0.45 earlier this week. Ethereum (ETH) which is third by market cap is down over 5% and trading at $119 at press time.
Currently, the total market capitalization of all the cryptocurrencies is at $122 billion which is down from an intraweek high of $146.5 billion on December 24th.
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