This Wednesday, on the eve of the controversial fork of Bitcoin Cash, crypto-markets have fallen sharply. At the time of writing, they were only valued at $ 187 billion – against another $ 212 billion 24 hours ago. This was their lowest level since September 12th.
This collapse comes as many “crypto-bulls” had posted in recent days their optimism for Bitcoin. They expected his price to surpass his 200-day moving average and begin a recovery to his historic record of December 2017.
But their predictions have not come true, despite the expected arrival, in the coming months, of several giants of Wall Street in the crypto-sphere.
— Peter Brandt (@PeterLBrandt) November 14, 2018
The BTC seemed thus, this Wednesday, to have caused in its fall all the crypto-markets.
While Bitcoin Cash was the worst student among the top 10 crypto-currencies, with a drop of more than 18% over the last 24 hours, it was far from the only place to dive.
Of the top 100 digital assets, with the exception of “stablecoins”, only 2 had appreciated against the dollar over the last 24 hours.
At the same time, the top 10 corners (with the exception of the Tether) posted declines of over 10%.
In all, the crypto-market “Market Cap” had lost more than $ 25 billion in just 24 hours.
While the majority of the “altcoins” were more severely impacted against the dollar than the BTC, the latter had managed to consolidate its dominance of the crypto-markets. This figure now reached 53.4% – against only 35.8% on May 3rd.
As expected, this collapse sparked many reactions on Twitter.
If some seemed saddened:
— Barry Silbert (@barrysilbert) November 14, 2018
— CryptOrca (@CryptOrca) November 14, 2018
Lol nice try market, dumping my portfolio 10% when is already down 95% ask me if I care.
— Dr. Cryptro Doctror (@foryouralts) November 14, 2018
If you are watching bitcoin dump now.
Grab yourself by your balls.
It feels like it helps for me. You should try it too.
— [ Romano ] (@RNR_0) November 14, 2018
Others were trying to stay optimistic:
We'll get through this.
— dark pill (@DanDarkPill) November 14, 2018
If you’re freaking out, you’re doing it wrong
— Moon Ginja (@Cryptoginja1) November 14, 2018