Bears still very much in control as today sees more downside

10 Aug, 2018
by Paula D. Baciu
Bears still very much in control as today sees more downside

After a notable sell off a couple of days ago in response to the SEC delaying an ETF decision, it appeared the crypto market has stabilized a little bit. While still part of a bearish trend, the consolidation of the last 2 days was an optimistic sign that the support there would hold. However, in the last hour, the bears have come back in with a dramatic downturn in the market.

Market Cap and Bitcoin Dominance

The last day or so has seen stability between $220 and $230 billion USD for the crypto market cap but now is currently at $215,146,470,794 USD at the time of this writing. Bitcoin dominance remains strong at 49.2%.

Top 10

Save for one, all top 10 coins are seeing red today. Losses range from -11.78% (IOTA) to as little -4.76% (BTC). Tether, due to its intrinsic nature of being linked to the US Dollar, has only dropped -0.02%. Stellar was doing relatively well, but in the last hour its change has dropped to only +0.59%.

The market is very volatile at this time, and twitter is rampant with people warning that it is a dangerous time for new investors.

With so much volatility, it is likely the prices will change dramatically in the coming hours. Stay tuned to Chepicap for up to the minute updates!

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