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As Negative Sentiment Grows, Bitcoin Dips Below $19K

Crypto Price Analysis

A week after Bitcoin fell below $19,000, perceptions of the cryptocurrency market as a whole continue to deteriorate. Compared to conventional currencies, alternative currencies face much more significant daily losses. XRP, ADA, and SHIB prices have decreased by over 5%.

It even hit a multi-week high north of $20,500 less than a week ago, comfortably trading around $20,000 less than a week ago. Despite exceeding forecasts, the US employment data reversed the tables and sent Bitcoin down almost $1000.

Price Trends for Bitcoin

As a result, bitcoin lost all of its value, around $19,000–$20,000, over the weekend. On Monday, the scene stayed unchanged, but only a short while ago, BTC began to decline once again. It fell below $19,000 this time, setting an 8-day low.

Since then, bitcoin has gained some ground and crossed that mark. The company still has a nearly 40% market share over its alternatives, despite its declining valuation to $365 billion.

After posting the best performance last week, Ripple has now turned red. The XRP price hovered over $0.50 yesterday but fell 5.5% over the next 24 hours. There has been a comparable drop in Cardano’s and Shiba Inu’s prices, which are now under $0.4 and $0.000001, respectively.

With the price of Ethereum falling by almost 2%, it now trades below $1,300. Likewise, a decrease of 1.3% has been recorded in Binance Coin, which currently stands at $270.

Avalanche, Solana, Dogecoin, Polkadot, MATIC, and Tron are all red among the larger-cap alts. The most significant drop has been in Ethereum Classic, which has dropped by roughly 10% in a single day. In the past week, the crypto market value has lost $30 billion on average daily, and now it is worth $920 billion.

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