Bitcoin Below $4k, Top 20 Coins See Red






The last 24 hours has seen Bitcoin drop below $4k, with more than $11 billion dollars wiped from the total market capitalization, according to data procured from CoinMarketCap.

Most of the fall occurred when the clock struck midnight CST, wiping $8 billion in a sixty minute period, before markets tapered a further $3 billion since.

All of the top 20 coins by market cap that are not stablecoins are well in the red, with ETH, BCH, XMR, and NEO all down around 14%, while EOS, LTC, BSV, ADA, BNB, MIOTA and ETC all down by close to 10% or more at the time of writing.

Only Tron (TRX) and Maker (MKR) seem to have escaped the brunt of the wider market crash from the top 20 coins, with both falling less than 5% in the last 24 hours.

Only five of the top 100 coins by market capitalization have seen 24-hours gains, notably Status (SNT) which has risen 12%, and Maximine Coin (MXM) seeing a gain of 4%.

At press time, Bitcoin was trading at roughly $3,660.



Author: Timothy Goggin

Timothy Goggin is an economic analyst with an interest in the application of moral philosophy and decentralized systems. He studied economics at the Business School at Victoria University of Wellington, New Zealand. His area of research is the consequential and moral dimensions of implementing digital currencies and the resulting synergies for consumers in the trading environment.

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