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Bitcoin [BTC] fell by more than 8% on April 25, 2019, as it plunged $ 5,000. On a daily scale, the stick recorded a 8.76% loss from the $ 5450 level. The negative movement in the market has been attributed to another Exchange-related fraud involving Bitfinex.
However, the market apparently corrected the brutal crash since it was traded only 1.72% on a daily basis. The price of Bitcoin at 03:00 UTC on April 26, 2019 is $ 5235.
Before Binance, Bitfinex was the first Cryptocurrency exchange in terms of volume. USD-Tether stablecoin has also been made popular on this stock exchange. The New York Attorney General's office recently accused the stock market of hedging up to $ 850 million with the USDT.
The news was announced late April 25, 2019 and caused a temporary frenzy on the markets. In addition, altcoins were the most affected by the decline, as the total market capitalization of the altcoins (with the exception of Bitcoin) lost about $ 5.8 billion.
The total market capitalization of the cryptocurrency markets, including Bitcoin, also fell below $ 170 billion. In addition, Bitcoin's domination of the cryptocurrency markets has gained another percentage; Currently, The domination of Bitcoin is 54.8%.
Litecoin (LTC) Merchants not moved
The Exchange-related scam has been reported on the misuse of USD-Tether. In addition, Bitcoin traders were too vulnerable and feared a drop, as the news provoked an extreme reaction of FUD (Fear, Uncertainty and Doubt) in the markets, acting as a catalyst.
However, the traders in litecoins remained unchanged, the losses he suffered due to the fall of Bitcoin were moderate and covered in a few hours. The price of the bedecoin [LTC] On April 26 at 3:15 pm UTC, 74.17 USD. It is trading at 1.07% higher daily.
Ethereum (ETH), Monero (XMR) and Dash (Dash) and XRP
Ether (ETH), Monero (XMR) and Dash (DASH) fell by almost 5% or more on a daily basis, recording the largest losses among the main cryptocurrencies. Ethereum broke the line of assistance at $ 160 during the accident. The ETH price at 3:20 UTC on April 26 is $ 155.9. He trades 5.42% on a daily scale.
Monero (XMR) and Dash (Dash) also exceeded key support levels. They are trading 7.45% and 5.02% lower on a daily scale respectively.
Read also: Ethereum, Monero and XRP Bullish, Peter Brandt: Stop Loss Loss Lists To Watch-Out for
While XRP was losing less in percentage terms on a daily scale, it also exceeded a key support level of US $ 0.3. The price of the XRP at 3:30 pm UTC on April 26th is $ 0.293.
The biggest losers in the 20 largest market capitalization crypto-currencies were Tezos (XTZ) and IOTA with 12.52% and 10.86% loss respectively. The price of Tezos at 3:30 UTC on April 26, 2019 is 1.10 USD. He wiped out most of the month's gains, peaking at $ 1.47 in April.
Do you think that the market would correct daily life or that the declines would seize the opportunity? Please share your views with us.
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Crypto-Market Update: Bitcoin [BTC] Plummets on Bitfinex News; Altcoin, ETH, XRP and XMR traders also panic
The description
Bitcoin [BTC] fell by more than 3.7% on April 25, 2019, below the $ 5,000 support. On a daily basis, the price fell 5.750% from the $ 5450 level. The negative movement in the market has been attributed to another Exchange-related fraud involving Bitfinex.
Author
Nivesh Rustgi
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CoinGape
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