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Cryptocurrency Market Slump Again: Bitcoin’s Value Falling Below USD 3,000

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Moupiya Dutta
Moupiya Dutta
She finds it interesting to learn and analyze society. she keeps herself updated, emphasizing technology, social media, and science. She loves to pen down her thoughts, interested in music, art, and exploration around the globe.

The bull run in the cryptocurrency market last week took the price of BTC above $4,000, but it fell below once again. Bitcoin (BTC) has been glued in a descending motion for the entire year, and this time it took a dive below support at $3,800 yesterday and has extended losses during Asian trading today.

BTC will not reach bottom until it moves below $3000. In his words: I believe the price of BTC is still going to fall lower short-term. –  Anthony Pompliano, Morgan, Creek Digital.

All the cryptocurrencies in the market are still buried in the red. Bitcoin is still yet to recover, and it’s still struggling to break over the level of $4,000. The digital currency recently dropped below the critical level of $6,000 and $5,000. BTC is currently down over 3% on the day.

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As per sources, the value of Ethereum (ETH) is one of the most critical in the market. Looking at its worth value of the coin, one would think the glory days are long gone. Ethereum (ETH) traded close to the $1,500 in December last year. Nevertheless, the digital currency is now down by more than 90 percent from its all-time high. Ethereum is currently trading below the $110 mark at the press time.

However, two obscure new entries to the top one hundred are also getting a pump; Endor Protocol and Credo are in double figures. DEX is getting another big dose of FOMO with a 34% pump at the moment.

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Ethereum (ETH) is currently trading at $127.03. The trading volume over a 24 hour period is $2,465,622,786 and the market capitalization is $13,215,544,643. Bitcoin started trading in green within the last hour. Other cryptocurrencies will join in soon and trend in green against the USD.

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