Down We Go
We’re still trending downward, folks. It was looking last night like we might close this week out on a green candle. But that was before Bitcoin shed about $600, dragging the rest of the market down with it.
Currently, crypto’s overall market cap is resting in the realm of $258 bln, a 7% decrease from where it was at the end of last week. At its current price, Bitcoin has broken the support it established on its nosedives in early February and April, sporting a new all-time-low for 2018.
If Bitcoin can maintain support at ~$5,800, then we could bounce still from this latest drop. If not, we could be in for $5k or lower in the near future.
Bitcoin: With a price of $6,130, Bitcoin has lost 5% of its value over the week.
Ethereum: Ethereum has practically mirrored Bitcoin’s losses; at $472, it’s down 4%.
Ripple: Even with its slick new logo, Ripple shed 7% off its price this week, and it’s currently trading at $0.49.
