The cryptocurrency markets have suffered significant losses in the past 24 hours as the total cryptocurrency market cap has fallen below a trillion to $ 823 billion and is down around 9.9% in value. Since the Bitcoin price hit on Sunday January 10th, Bitcoin price has fallen by over 25%, recording the biggest drop in prices of the year.
Digital currency markets are in the red on Monday as crypto assets have lost between 15% and over 35% in the past 24 hours. The leading digital asset by market valuation Bitcoin (BTC) is down over 20% at the time of publication.
Bitcoin (BTC) fell to a low of $ 30,261 on Monday afternoon (EST) and lost 25.2% after hitting a high of $ 41,056 on Sunday. At the time of writing BTC trades for prices above $ 32,000 per unit with $ 38 billion worldwide BTC Trading volume.
XRP took a 15% loss when it traded for $ 0.27 per token and Bitcoin Cash (BCH) is down 30% today. BCH hit a high of 2021 on Sunday, trading above $ 625 per coin. For now, however, bitcoin cash (BCH) changes hands at $ 413 per unit.
The biggest winners rose between 8% and 91% today on Monday, with the token Stakenet leading the pack. It is followed by more crypto assets that saw gains on Monday, including STK, ZEN, MXC and DAG.
The biggest losing sign in today’s crypto economy is CTXC, which is down 47%. According to CTXC, coins such as DMT, BCD, RCN and MKR have seen some deep losses too.
Since Bitcoin’s (BTC) There was a significant decrease last weekend. Now there is an upward gap in the CME Group’s Bitcoin futures chart. The two large gaps on either side are between $ 23,670 and $ 26,645 (down) and between $ 39,165 and $ 40,535 (up).
Simon Peters, an analyst at Etoro, explained to investors in a notice that the crypto markets are still in a healthy position. “Despite yesterday’s slump, we are still in a healthy position,” wrote Peters. “Not only are we continuing to see institutional investments, but Bitcoin is also being held on the stock exchanges as investors move their tokens into wallets. Glassnode data shows that more and more illiquid Bitcoin is accumulating as more and more investors hodl.”
The Etoro analyst added he wouldn’t be surprised to see it BTC Prices above the $ 70,000 year end range. “I think we can take the range of $ 70,000 to $ 90,000 as a target price for the end of 2021,” said Peters. “There will inevitably be bumps along the road and no doubt there will be a number of retracements, but there are still profits to be made.”
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