Neo and Cardano drop 5% as bears move in

21 Feb, 2019
by Joeri Cant
Price Action
Neo and Cardano drop 5% as bears move in

Bitcoin has been unable to break through the $4,000 mark and keep its ground. Both NEO and Cardano are recording the biggest losses in the top 20, while the vast majority of the altcoin markets are being dragged down as well.

Although the number one cryptocurrency is keeping its losses to a bare minimum right now, down -0.91% in the past 24 hours, according to coinmarketcap.com, the same cannot be said for most altcoins.

NEO, down more than 5%, has lost four times as much value as Bitcoin, which could indicate that the bears are back in control.

Most surprisingly is that even though NEO has ample trading volume, it appears most people are focussed on selling, rather then piling it up.

As the weekend draws closer, it is unclear how the NEO chart will evolve over the coming few days, especially because it is always difficult to make sense of the weekend markets.

Read more: Is Bitcoin at $1 million really possible?

Cardano, currently the 11th most popular cryptocurrency, is receiving a beating as well, as it is seeing losses of -5.05%, with a total market cap of $1.16 billion. ADA is currently trading at $0.04, and is struggling to hold on.

Neo and Cardano aren't the only top 20 coins who are struggling to hold onto their gains.

The third largest cryptocurrency is showing a loss of -2.45%, similar to EOS, which is down as well more than 2%.

Litecoin is trading at $49.18, down -4.06%, while BNB is having a difficult 24hrs with -3.41% down.

The biggest loser of the day is Veritaseum, down -10.97%, while the gold for the day goes to QASH, up a massive 45.74%.

Read more: XRP at $589? Is it really possible for Ripple's token?

Total market cap as of writing time is $133,268,650,745 according to Coinmarketcap.

Even though most of the cryptos are seeing red today, according to many crypto experts, a break out is near  and we might see all-time highs sooner than we think.

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