Home / Cryptocurrency / A Third Dump Will Push The All-Time Low Cryptocurrency Market Further Down South

A Third Dump Will Push The All-Time Low Cryptocurrency Market Further Down South

Things were looking bright with cryptocurrency for
the year 2019.  The trend lines showed
that the cryptocurrency markets were making their recovery from their bearish
trend. However, the bears have come back and established that the year is not
yet done away with them via the daily crash down by 11.5% and the $15 billion
and additional losses in the crypto-assets since yesterday.

The dumping of the bullish hopes of Bitcoin was
broken down at two different hours. The cryptocurrency has been exhibiting
resistance at $4,000, and most of the indicators suggested that it will not be
breaking through the line.  However, the
price of the Bitcoin went down to $3,850, and about eight hours later, it went
further down to $3,660.  There was also
an active support zone at $3,600.  Fears
are catching up on whether Bitcoin would catch up with its all-time low at
$3,200 like in mid-December. 

Like several situations in the past, the entire
cryptocurrency industry has been tied to the Bitcoin movement. This undesired
fall in price has as well affected Ethereum that shows a 13% loss.  The loss of Ethereum has become the gain for
XRP that has taken the second place in the market with a total market cap at
just $100 million.  XRP traded 10% below
the dollar, and it rubbished the 11.5% fall.

Overall the cryptocurrency market had been
bleeding.  Tether is climbing up the
ladder and is trying to displace Litecoin on the seventh spot.  Bitcoin Cash, EOS, Torn and Cardano were all
the major losers in the list for having lost over 16% in just one day. TRON
continues to be up over the week through positive fundamentals, and TRX has
been sustained up.

Verge has been the sole survivor at the present
moment; there is a 7.5% increase with XVG. 
It has made gains while the rest of the cryptocurrencies have crumbled
down. Updates have been made to the Wallets and the software; however, there is
nothing else that can drive its momentum. However, it is predicted that the
Verge might dump the gains too soon. 
Verge has been considered to be a dead coin by many; however, it seems
to be kicking at the moment.

Despite the downfall, the crypto markets are
found to be consolidating somewhere around $120 and $140 billion. If there
should be a third dump, then there might be new lows, and things might trend
too south.  Considering the current position
of coins, they are at their all-time lows in 2019.


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