Market continues its decline as Bitcoin closes in on $8,400

31 May, 2019 | Updated: 31 May, 2019
by Richard Allen
Price Action
Market continues its decline as Bitcoin closes in on $8,400

While Bitcoin briefly set a new yearly high of $9,000 yesterday, the king of cryptocurrencies has since dropped. As the rest of the market sees red, Bitcoin is now sitting just above $8,400.

Bitcoin seems to be taking a break from its push to set new yearly highs as the coin is currently down 3.73% to trade at $8,434.82 at the time of writing. Ethereum, XRP and Bitcoin Cash are all down over 7%. As Ethereum hits $262.34, XRP and BCH are trading at $0.43 and $436.37 respectively.

Bitcoin SV is the top 10’s biggest loser, shedding 9.15% of its value of 24 hours. BSV is now trading at $188.35. Cardano and Tron are showing similar damage as both projects lose over 9% to trade at $0.086 and $0.032 respectively. Tezos is the top 20’s biggest loser, down 10.64% to trade at 41.59.

Further down the list, Chainlink is the project to see the most losses out of the top 100, dropping 13.23% in value, followed by Komodo with losses of 11.95%.

MonaCoin is still holding on to its gains, continuing its meteoric rise with 71.35% in the green following a listing on Japanese exchange CoinCheck. Bytecoin and Maximine Coin are two other notable earners, both up over 15% at the time of writing.

Total market cap has slipped slightly from $270 billion reported yesterday to $267.1 billion. 

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