Cryptocurrency market update: rally stalled
|Cryptocurrency market has calmed down. Bitcoin and all major altcoins retraced from the recent highs, though they are still in the green zone. Bitcoin slipped below $5,000 but the downside potential seems to be limited so far.
While crypto enthusiasts believe that the worst is over and the market is on the verge of a new bull run, some experts warn that the rally any be temporary if it is not supported by institutional investors and consumers.
Top-3 coins price overview:
* Bitcoin (BTC) stays at $4,980 at the time of writing. The coin is 5% higher from this time on Tuesday and 1.6% higher from the beginning of Wednesday.
* Ethereum (ETH) slipped to $168.00 after growing to $174.00. The coin continues trading with a bullish bias with over 9% gains on a day-on-day basis.
* Ripple’s XRP stalled at $0.3500. The third largest digital asset grew by 5% on a daily basis.
The biggest market-movers:
* Bitcoin Cash (BCH) remains a growth leader of the day. The 6th largest digital coin gained over 41% in recent 24 hours to trade at $263. Though the bullish momentum is fading away.
* Litecoin (LTC) retreated below $83.00 by the time of writing. LTC/USD is 21% higher than this time on Tuesday amid technical correction.
* Bitcoin SV gained 22% to trade at $84.00. This is now the 12th largest coin my market cap.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.