Looking at the trend of digital currencies in the last hours, can we already speak of apocalypses of cryptocurrencies? Looking at the almost halved values of Bitcoin, Ripple XRP and Ethereum, it might seem so. But before claiming that electronic currencies are dead, we should look back in time; more precisely a year ago, when for example the value of BTC was under $ 1,000. Now we need to understand if the rebates will continue or we are just witnessing a negative parenthesis created mainly by China and South Korea with their threaten ban.
The attempt to regulate a market without rules scares the specific market, thus negatively affecting cryptocurrencies. Analyzing the charts of CoinMarketCap we can see a list of negative signs and marked in red and important losses in the last 24 hours. With the market capitalization value that has almost halved compared to just 2 days ago.
At the moment, Bitcoin is trading around the threshold of 10 thousand dollars, being traded slightly above the $ 9,800. Ethereum is trading at just over $ 851. Ripple trades at just over $ 1, and many investors and exchanges are stocking up a lot of XRP, like we wrote in our post earlier today.
Analyzing the data of CoinMarketCap and LiveCoinWatch we notice some slight differences, only for the fact that Coinmarketcap has excluded from its indices the South Korean markets, as reported in this post. The decision was made about a week ago. The signs in red, however, are all there and the divergences between the trends are very subtle.
