Yesterday, Bitcoin dropped 12% falling below $10,000 for the first time in weeks and BTC was not alone. Most major cryptocurrencies have been affected the majority of them have dropped more than 10%.
January turned out to be a slow month for cryptocurrencies and by the looks of it, February might follow that trend. Yesterday the market experienced a major drop and almost all assets were affected.
Bitcoin’s price dropped by over 12% and ended up under $10,000 for the first time in several weeks, Ethereum dropped more than 9% but managed to stay above the $1,000 mark, and Ripple dropped 10%. On top of that, other high performing cryptocurrencies decreased even more, with Stellar topping yesterday’s list selling for less than 17%.
The Market is Still Red
Unfortunately, the market is not looking much better today. Some of the bigger coins have regained some value and Bitcoin is back above $10,000. However, most of the market is still looking awfully red and by the looks of it, February might follow last months trend.
At the time of writing, NEM is down 14% and TRON is down 12%, but ICON tops the list and is down by close to 23%. That being said, most cryptocurrencies on the market have lost over 10% in the past 24 hours.
Is There Any Hope Left?
There is always hope and the market is not going anywhere. In fact, the interest in cryptocurrency trading is constantly growing. Also, the cryptocurrency market is known to fluctuate and sooner or later it will turn again.
Until then, there are a few options that are looking better. In the midst of all this red, there are a couple of cryptocurrencies that are doing well. For example, Lisk is up 15% since yesterday. Additionally, many cryptocurrency traders consider major falls like these perfect investment opportunities so the choice is yours.
Find the best trading platform. You capital is at risk when trading. Be careful.