Bitcoin surges below $10,000, as the entire crypto market sees red

Image for post
Image for post
The crypto sector took another big hit, as almost all cryptocurrencies marked adverse price movements.

The leader in cryptocurrencies, Bitcoin, suffered a 3,2-percent loss and fell below the $10,000 support zone. In fact, Bitcoin’s 7-day chart shows that the #1 crypto took a steeper downhill route on July 18th, but quickly managed to get back on track over the weekend, trading at around $11,000.

The sudden drop comes amid Chinese’s provincial court allegedly confirms that Bitcoin has the signs of a digital property with provable track records and ownership. The debate in China may lead to vital for the entire crypto community changes, regarding the Chinese government and their otherwise tough stance on Bitcoin and digital currencies.

As of press time, Bitcoin’s price settled at $9761,4.

The second in line, Ripple, managed to overtake Ethereum with $30+ billion in market capitalization. XRP, however, also recorded a one percent loss over the past 24 hours and as of press time is traded around $0,309. Ripple is known for a safe haven for crypto investors as the market shows signs of volatility and performs better under pressure.

Third in the ranking is Ethereum, which lost little over two percent to trade at $207.22 as of press time.

There are only a few cryptocurrencies currently trading in the green. EOS, for example, saw a 2,68% price gain and trades at $4.428 as of press time. NEO also marks a two-percent price increase, currently trading at $11.6.

Looking at the 7-day graphs, however, things look a tad different. Bitcoin is 1.14% up from last week, Ethereum is on the red with 0.83% price loss, and Ripple’s price increased with a mere 0.1%. The biggest gainer from the previous week is Bitcoin SV, with a substantial 36.72% price increase. Bitcoin SV currently trades at $163.5. — the latest blockchain news, ICOs, IEOs, crypto analysis, DApps, crypto events, leading STO advisors and crypto companies — all in your hands.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store