Daily crypto: Markets continue downward while “bitcoin sv” rallies

Daily crypto: Markets continue downward while

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Tim Haldorsson

tim.haldorsson@trijo.co

The total market cap for all cryptocurrencies has lost $6 billion. The cryptocurrency "bitcoin sv", which is a so-called hard fork from bitcoin cash, rallied in price.

The crypto markets have lost in value over the last 24 hours. Currently, 92 of the 100 biggest cryptocurrencies are traded at lower prices than yesterday.

The market cap for all cryptocurrencies has lost $6 billion over the last 24 hours – from $129 billion yesterday to $123 billion today.

Many people are wondering if the market will go up or continue down. According to Vinny Lingham, CEO of the identity management company Civic, it is likely that the price of bitcoin will stay between $3,000 and $5,000 in the coming months. Lingham says in an interview with CNBC that there is a big buying pressure around today’s prices and that the next major support zone is around $3,000.

“If we do not get out of the crypto sort of bear market cycle in the next three to six months, that $3,000 level could go”, Vinny Lingham said in the interview with CNBC.

“Bitcoin sv” rallies

Looking at the biggest cryptocurrencies, most of them show red numbers. Ethereum (-7,71%), eos (-7,02%), bitcoin (-6,95%) and xrp (-6,03%) have lost in value, while bitcoin cash (+1,19%) has increased in value over the last 24 hours.

“Bitcoin sv” is a so-called hard fork from bitcoin cash and is today the sixth biggest cryptocurrency. “Bitcoin sv” currently has a market cap of almost $2 billion.

The cryptocurrencies on top 100 that performed the best during the last 24 hours were “bitcoin sv” (+16,16%) and chainlink (+9,94%), and those who performed the worst were sirin labs token (-47,43%) and mithril (-16,35%).

Asset: Price: % (24h)*
Bitcoin $3 776,94 -6,95%
Xrp $0,35363 -6,03%
Ethereum $106,87 -7,71%
Bitcoin cash $184,82 +1,19%
Eos $3,13 -7,02%

*All numbers in this article are from Coinmarketcap.com.

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