ALGO is the only largest-cap digital asset in the green today, as Bitcoin, Ethereum, Binance Coin, and all others have plummeted once again.
Price corrections in the cryptocurrency market continue as bitcoin failed to recover $ 50.000. Most altcoins today are in deep red, with Ethereum close to dropping below $ 4.000, and substantial dips are also from Solana, Ripple, Polkadot, Terra, Avalanche and others.
Bitcoin failed to exceed $ 50.000
We can say that the price of bitcoin has seen better days, which were not that long ago. Just Friday, the cryptocurrency was trading around $ 58.000 after another failed attempt to break through the $ 59.000 resistance.
This is where the situation changed for the worse when BTC first plummeted to $ 51.000, before another huge sale took it to a two-month low of $ 42.000.
After this massive $ 16.000 drop, the asset rebounded and approached $ 50.000. He stayed there for a while, but ultimately failed to conquer it for good.
As a result, BTC is back to around $ 48.000 and its market cap has dropped to just over $ 900 billion.
ALGO in green: all other alternatives are not
Alternative currencies also plummeted on Saturday morning and attempted recovery sessions on Sunday. Today, however, most are in the red again.
Ethereum briefly crossed $ 4.300 yesterday before another 4,5% drop took the second cryptocurrency to just over $ 4.000.
Binance Coin (-3%) is less than $ 560 and the rest of the larger altcoins have lost even more value, including Solana (-9%), Cardano (-5,5%), Ripple (-7%), Polkadot (- 8%), Dogecoin (-6%) and Shiba Inu (-6,5%).
Terra, Avalanche and CRO have downloaded even more with double-digit percentages in one day. Algorand is the only larger-cap alternative that's green today after a 3% increase.
Most daily losses come from Kadena (-24%), Immutable X (-20%), Quant (-17%), Fantom (-16%), Harmony (-16%), THORChain (-15%), IoTeX ( -15%), Elio (-15%) and many others.
The cryptocurrency market cap has dropped by $ 120 billion since yesterday and by $ 400 billion since Friday to $ 2,2 trillion.
However, this is a buy signal for many and a profit opportunity for others. Do you want to earn too? You can do this by trading on Bitcoin Pro, which thanks to CFDs, allows you to earn, regardless of the direction of the crypto.
