Sunday, December 10, 2017 01.38PM / Coindesk
case of crypto traders locking in holiday gains?
the reason, the price of bitcoin spent much of Saturday in decline, as the
world's largest cryptocurrency saw a nine
percent drop over the 24-hour span. Sunday's session has so far seen that
drop intensify, with the price down nearly 12 percent as of 4:00 UTC. Just
away from a launch on a major futures exchange, bitcoin is now down nearly
25 percent from an all-time high of $17,117 set earlier this week, with the
price hitting a low of $13,152 today, data from the CoinDesk Bitcoin Price
said, bitcoin wasn't the only cryptocurrency affected. According to data from
CoinMarketCap, all but one of the top 50 assets by market capitalization have
seen 24-hour declines.
time of publication, the total value of all publicly traded cryptocurrencies
was down 8 percent from its recent highs, falling from a high near $400 billion
to $367 billion.
that's not to say there hasn't been periods of upward movements. A look at the
market's most recent session (18:00 to 24:00 UTC) indicates litecoin, bitcoin
and IOTA all gained more than 5 percent in the 6-hour span (despite being down
on the day).
further suggests declines may have been limited to a poor afternoon session on
Saturday (12:00 to 18:00 UTC), as data from CoinMarketCap shows that the five
best performing cryptocurrencies during the period all saw declines.
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