Crypto markets Slowly Bleeds Seeing Bitcoin and Major Altcoins in Red
More than $8 billion has been wiped out from the crypto market, as several major digital assets including Bitcoin Cash (BCH) and Stellar (XLM) suffered.
Bitcoin is losing steam and has not been able to get back above $6,400 since a little spurt on Monday. BTC is currently trading down again today, though losses are minimal and it is priced at $6,350 right now.
The price of BCH has also dropped below the $500 mark to $480. Within the past week, after securing a monthly high at $630, BCH has dropped by more than 24.4 percent.
Ethereum is following suit with another 1.5% decline on the day taking it to $206. Meanwhile, red has dominated the altcoins charts and it has been since the weekend.
However, prior to the scheduled November 15 hard fork, the price of Bitcoin Cash increased by more than 50 percent, as Bitcoin Cash SV, a camp led by Craig Steven Wright (CSW), Coingeek, and Calvin Ayre, announced its plans to hard fork.
But now with one day left before the scheduled hard fork, BCH recorded a large drop of over seven percent and experienced one of its most intense sell-offs in recent months.
More than $8 billion has been lost since last Wednesday which equates to a 4% market fall. On the three month chart however markets are still consolidating in a channel between $200 and $220 billion.
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