Cryptocurrency markets have lost considerable value since our last markets update three days ago. The entire digital currency economy of roughly 1900+ assets has lost $35 billion since then, and a great majority of cryptocurrencies over the last 24 hours are in the red seeing significant losses.
Crypto-Markets Drop Significantly
Just when cryptocurrency fans thought things were getting better and many digital assets started slowly moving back up, digital asset prices plunged during the early morning trading sessions on September 5. For example, bitcoin core (BTC) values slipped from the $7,400 range at 5 am EDT, to the $6,900 area until 5:30 pm. Then again BTC prices slid another leg down to a low of $6250 around 11 pm, but values have since increased back to the $6,400-6,500 area. Bitcoin cash (BCH) markets on September 5, from 12-to-5 am were seeing BCH prices coast along at $630 per coin, but dipped to $560 at 7 am. Following this, BCH dived even further as prices had dropped below the $500 zone and the price right now at the time of publication is $517 per BCH.
The top cryptocurrencies have followed a similar path and most digital assets are down between 8-14 percent in just one day. Some virtual currency markets are down as low as 20 percent over the last seven days. Ethereum (ETH) markets on Bitfinex had a serious flash sale as 60,000 ETH were dumped during yesterday morning’s early trading sessions. A half an hour later another 70,000 ETH were exchanged on the trading platform. This decline has pushed the price of ETH down 20 percent as it now hovers at around $225 per coin.