Ethereum, Bitcoin Prices Slide as Market Sheds $10 Billion

Ethereum, Bitcoin Prices Slide as Market Sheds $10 Billion

Ethereum, Bitcoin Prices Slide as Market Sheds $10 Billion

The crypto markets took a steep downward turn on Friday, with more than 90 of the top 100 cryptocurrencies posting single-day price declines. The bitcoin price dropped nearly $400 after challenging the $4,000 level earlier in the week, while the ethereum price slipped below $260.

Chart from CoinMarketCap

The total cryptocurrency market cap–the combined value of all cryptocurrencies–dropped more than $10 billion for the day. After beginning the day at about $133 billion, the crypto market cap quickly dropped below the $130 billion threshold, where it languished leading into Friday morning. At present, the total crypto market cap is about $122 billion.

Chart from CoinMarketCap

Bitcoin Price Dips Toward $3,500

Bitcoin was at the head of the retreat, dipping nearly $400 from its Thursday morning mark of $3,900. Market manipulation or not, the bitcoin price has tapered quite a bit since its early-week recovery. In the past day alone, it has dipped 6%, despite the fact that a prominent industry figure said a trusted source had told him that China will not extend its bitcoin crackdown to mining. At present, the bitcoin price is trading at a global average of $3,564, which translates into a $59.1 billion market cap.

Bitcoin Price Chart from CoinMarketCap

Meanwhile, JP Morgan CEO Jamie Dimon has taken another potshot at bitcoin, claiming that it’s “worth nothing” just a week after calling it a fraud.

Ethereum Price Dips Another 6%

The ethereum price mirrored bitcoin’s decline, dipping 6% for the day. After entering the day above $270, the ethereum price struggled to hold above that mark. Ultimately, it dove through the $260 level, too, bringing it to a current price of $257. Ethereum now has a market cap of $24.4 billion.

Ethereum Price Chart from CoinMarketCap

Bitcoin Cash Posts Double-Digit Decline

The bitcoin cash price careened downward on Friday, posting the worst single-day performance of any top 15 coin. Within the past 24 hours, the bitcoin cash price has fallen by more than $50–a 10% drop. At present, bitcoin cash is trading at $407 and has a market cap of just $6.8 billion.

Bitcoin Cash Price Chart from CoinMarketCap

Altcoins Trend Down

The altcoin markets joined in the retreat, with nearly every top 100 cryptocurrency declining for the day. Fourth-ranked Ripple saw its price fall 5% to $0.17, while Dash slid 3% to $337.

Altcoin Price Chart from CoinMarketCap

The litecoin price fell 8% to just under $46. The 6th-ranked coin now sits at just 50% of the $92 record it set on September 2.

Litecoin Price Chart from CoinMarketCap

NEM–whose single-day trading volume is just $3 million–declined 6% to $0.204, while IOTA dropped 5% to $0.484. Monero, whose price approached $150 less than a month ago, is now trading at just $85 following Friday’s 7% skid. Ethereum classic rounds out the top 10 with an 8% decline that forced its market cap below $1 billion.
 

Author: Josiah Wilmoth on 22/09/2017

 

Postedby David Ogden Entrepreneur

David https://markethive.com/david-ogden

Cryptoportfolio: ICO Review of BANCOR Network (BANCOR tokens)

FINANCIAL EDUCATION & YOUR BEST INVESTMENT

<;;
BANCOR WEB 

 

LEARN ABOUT WHY-HOW TO 

BE YOUR OWN BANK 2.0 

Protect & Profit From Debt Collapse & Cashless Society

Become truly educated on the past-present-future of money and financial technology!

Get FREE DAILY TRAINING & UPDATES & SERVICES & EARNINGS with 

1 – BITCOIN REVOLUTION 2 – CRYPTO ONLINE SCHOOL  3 – BE YOUR OWN BANK 

Precious Metals & Cryptocoins & Cryptotrading & Crypto ICOS

 

Don’t Be a Casualty in the Global War on Cash and Debt Collapse !

" The war on cash is a big victory for big government
– and a big loss for liberty, freedom, and privacy " 
  

In the war on cash, you’ll need safer strategies for your money

 

BITCOIN IS THE BIGGEST IDEA SINCE THE INTERNET!

It’s practically guaranteed that in the next financial crisis, there’ll be a whole slew of bank failures. 

Don’t believe a word of it. The amount of capital that banks hold compared to the money on deposit is frighteningly low. In the US, the five largest banks have a capital ratio as a percentage of assets of only 6% – although that’s double what it was in 2008. In effect, if every depositor in a bank demands their money back simultaneously – the classic “bank run” – the largest US banks could repay only six cents on the dollar before they ran out of money. And since most banks don’t keep a lot of cash on hand, it could even be less.

Indeed, there’s only a single type of bank that would be completely safe: one where 100% of each depositor’s funds are kept in reserve as cash or other highly liquid assets. The bank would offer conventional checking accounts for a monthly fee but hold no assets other than cash, gold, etc., in its vault.

Your friendly central banker will never tell you it wants to abolish cash so that you have no alternative but to keep all your money in a bank where your deposits can be bailed in at the click of a mouse 

Digital currencies are part of a worldwide revolution !

People across the planet are starting to transact using cryptocurrencies and the remarkable blockchain tech! Since inception, Bitcoin has outperformed all stock indices, real estate holdings, hedge fund returns, and collectable cars! It is becoming one of the ultimate safe havens because it bypasses the corrupt global banking system. 

 

Become truly educated on the past-present-future of money and financial technology!

Get FREE DAILY TRAINING & UPDATES & SERVICES & EARNINGS with 

1 – BITCOIN REVOLUTION 2 – CRYPTO ONLINE SCHOOL  3 – BE YOUR OWN BANK 

Precious Metals & Cryptocoins & Cryptotrading & Crypto ICOS

 

To your success,

DrJADelgado

 Facebook – Message Me   

 

David https://markethive.com/david-ogden