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Bitcoin [BTC] falls below $ 5k; Altcoin, ETH, XRP and XMR Traders Panic at Bitfinex News



Bitcoin [BTC] fell by more than 8% on April 25, 2019, when it fell under the support of 5k. On a daily scale, the candlestick posted a loss of 8.76% from $ 5450. The negative move in the market this time was attributed to another exchange fraud with Bitfinex.

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BTC / USD 1-Day Chart on Coinbase (TradingView)

However, the market has apparently corrected itself from the sudden crash as it has fallen only 1.72% on a daily basis. The price of Bitcoin at 3:00 UTC on April 26, 2019 is $ 5235.

Prior to Binance, Bitfinex was the leading cryptocurrency exchange in terms of volume. USD-Tether-Stablecoin also became popular on the stock market for the first time. Recently, the New York Attorney General's office has accused the stock exchange of covering $ 850 million in USDT.

On April 25, 2019, the news broke out too late, causing temporary frenzy in the markets. In addition, the old coins contributed the largest burden of the case, as the total market capitalization of old coins (except Bitcoin) lost about 5.8 billion dollars.

  Market Capitalization "width =" 1024 "height =" 375 "srcset =" https://cdn.coingape.com/wp-content/uploads/2019/04/26084955/market-cap1-1024x375.png 1024w, https http://cdn.coingape.com/wp-content/uploads/2019/04/ 26084955 / market-cap1-768x281.png 768w, https: // cdn. coingape.com/wp-content/uploads/2019/04/26084955/market-cap1.png 1320w "Sizes =" (max width: 1024px) 100VW, 1024px
Altcoins market capitalization only (Coinmarketcap)

The Total market capitalization of the cryptocurrency markets including Bitcoin also fell below $ 170 billion. In addition, Bitcoin's dominance over the cryptocurrency markets increased by another percent. Currently The dominance of Bitcoin is 54.8% .

Litecoin (LTC) Dealer Not Moved

Stock market fraud has been reported on the illegal use of USD tethers. In addition, Bitcoin traders were too vulnerable and concerned about a decline as the news brought extreme FUD (fear, uncertainty and doubt) to the catalyst-driven markets.

  LTCUSD "width =" 1024 "height =" 459 "srcset =" https://cdn.coingape.com/wp-content/uploads/2019/04/26083652/litecoin-poised-1024x459.png 1024w, https : //cdn.coingape.com/wp-content/uploads/ 2019/04/26083652 / Litecoin-poised-300x135.png 300w, https://cdn.coingape.com/wp-content/uploads/2019/04/ 26083652 / litecoin-poised-768x344.png 768w "Sizes =" (max-width: 1024px) 100vw, 1024px
LTC / USD 1-Day Chart on Coinbase (TradingView)

However, Litecoin's traders did not stay able to mitigate the losses that were incurred by the fall of bitcoin, were moderate hours anyway. The price of Litecoin [LTC] at 3:15 hours UTC on April 26 is $ 74.17. It trades on a daily scale by 1.07%.

Ethereum (ETH), Monero (XMR), and Dash (Dash) and XRP

ethers (ETH), Monero (XMR), and Dash (DASH) fell daily by about 5% or more and recorded the highest losses among the most important cryptocurrencies. Ethereum broke the $ 160 support line during the crash. The ETH Prize on April 26 at 3:20 hours UTC is $ 155.9. It trades on a daily scale by 5.42%.

Monero (XMR) and Dash (Dash) also broke key support levels. They trade at 7.45% and 5.02% respectively on a daily scale.

Read Also: Ethereum, Monero and XRP Bullish, Peter Brandt Lists Stop-Loss Levels

While XRP decreased less in percentage terms on a daily scale, it also broke an important support level of $ 0.3. The price of XRP on April 26 at 3:30 UTC is $ 0.293.

The top losers in the top 20 cryptocurrencies by market capitalization were Tezos (XTZ) and IOTA with a loss of 12.52% and 10.86%, respectively. The price of Tezos at 3:30 UTC on April 26, 2019 is $ 1.10. It wiped most of the month's gains, peaking at $ 1.47 in April.

Do you think the market would correct itself to the daily newspaper or the bears would seize the opportunity? Please tell us your views.

Summary

  CryptoMarket Update: Bitcoin [BTC] crashes on Bitfinex messages; Altcoin, ETH, XRP and XMR Traders Panic Too

Item Name

Crypto-Market Update: Bitcoin [BTC] Plummets On Bitfinex News; Altcoin, ETH, XRP and XMR Traders Panic Too

Bitcoin [BTC] fell by more than 3.7% on April 25, 2019, when it fell under the support of 5k. On a daily scale, the price of $ 5450 fell 8.76%. The negative move on the market this time was attributed to another stock-market scam with Bitfinex.

Author

Nivesh Rustgi

Publisher's name

CoinGape

Publisher's logo

The content shown may contain the author's personal opinion and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication is not liable for your personal financial loss.


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