Cryptocurrency Market Upheaval Continues; Market Cap Falls To $75 Bn

Bruno Cirelli
Luglio 18, 2017

Much to the relief of Ethereum and Bitcoin users, prices of the two cryptocurrencies regained some of their lost values after a weekend of high volatility.

In just over 30 days, the market has fallen 46.9%, falling to a low of $61 Bn.

The substantial decline in the prices of Ethereum and Bitcoin gave millions of users of these two cryptocurrencies a lot to worry about.

Upheavals in the cryptocurrency market continued this week as well. This helped the market to bounce back to $75 Bn today.

The Bitcoin trading market has been panicky shivering this last week.

As per the latest data by Coin Marketcap, the total market cap of the cryptocurrency market stands a little more than $75 Bn with Bitcoin's dominance standing at $35 Bn or 47.1%. That gap could grow if the crypto market correction continues.

On August 1, Bitcoin improvement proposal 148 is scheduled to activate, and if the majority of developers fail to agree on the proposal, the cryptocurrency could split.

The volatile digital currency tumbled to around $1,860 yesterday compared with a price of around $2,500 the week before. Today it stands at $2,200.

The ongoing debate over bitcoin's technical roadmap, as well as uncertainty over how planned upgrades could unfold could further lead to more crashes this month.

Bitcoin is still more than 30% below its June 11 closing high around $3,018, while ether remains cut in half relative to its June peak.

Ethereum has been leading price movements in the digital currency space for some time, but the currency is now seemingly leading the price movements of traditional stocks too.

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