On Tuesday, the price of bitcoin again fell below $ 8,000, demonstrating the inability to get out of its long decline. Broader markets failed to improve the situation significantly by placing the cryptocurrency market at the risk of a drop in capitalization below the $ 300 billion mark.
Currently, the market has a total value of 301.8 billion dollars, compared with 320.4 billion on Monday. This led to a one-day decline of six per cent in the index.
The price of bitcoin fell below $ 8000
The price of bitcoin continued to decline on Tuesday. The fundamental cryptocurrency occupied a mark of 8000 dollars most of the day. It resists further downward pressure, but it is not clear whether this level of support will be maintained. At the time of writing, the bitcoin price was trading at $ 7,945 on Bitfinex.
Ethereum course continues to fight
On the other hand, the price of Ethereum lagged behind the index with a one-day decline of eight percent. Ethereum is currently priced at $ 460 per Bitfinex, up from about $ 500 for the previous day. Ethereum currently has a market capitalization of $ 45.3 billion.
Bitfinex the Ethereum
The decline occurred despite the report that Coinbase adds support for the erc20 technical standard.
But there have been reports on the web that the Bitmain mining equipment manufacturer has developed the first Ethereum ASIC, which could lead to some controversial debate about centralization if these miners are released before Ethereum moves to the consensus Proof-of-Stake (PoS) algorithm.
Altcoin reduced pressure bitcoin
Altcoins markets noted a decline in the index, which led to a share of the Bitcoin market to the level of 45 percent. This does not mean that there was no hesitation, but the vast majority of altcoins brought investors gloomy expectations.
Ripple and Bitcoin Cash prices hold, though they still mark a 24-hour decline of five percent and three percent, respectively.
Meanwhile, Litecoin and EOS show a decrease of 8 and 9 percent, respectively. The price of Litecoin is now estimated at only 141 dollars., and EOS-5,54 dollars.
Stellar, Cardano and NEO each went down by six percent, while IOTA seven percent.