Crypto market daily report – June 5, 2019

The cryptocurrency markets continued to slide on Tuesday and Wednesday with most coins remaining well in the red after multiple drops over a 24-hour period. Bitcoin Core (BTC) was down by another 3% on Wednesday morning after experiencing drops of as much as 10% on Tuesday. It was trading at the $7,700 level, but further drops are expected throughout the day. Ethereum (ETH) was also down by around 6% having fallen to the $233 level on Tuesday—a drop of around 15% from Monday—but had recovered slightly to trade at the $240 mark at press time.

As in the past days, Bitcoin SV (BSV) continues its success story. The coin not only held on to its gains over the past days but was up by 4% overall at press time to the $224 mark, which is another high mark after having hit $227 a few days ago.

Litecoin (LTC) continued suffering some bearish pressure and was down by around 1% to the $101 level on Wednesday having dipped below that psychological mark on Tuesday afternoon. Another currency that continued to sink was EOS which was down by a further 6% at press time, trading at just above the $6.20 level—a 30% decrease from its 2019 high of well over $8 in recent days.

Other coins with large market caps also continued losing ground with XRP down 3% to below the $0.40 level, whilst both NEO and Stellar (XLM) lost around 3% to the $11.50 and $0.12 levels respectively. IOTA was down by a more conservative 3% to the $0.42 mark, whilst Binance Coin (BNB) also continued falling back to the sub $30 level or a drop of 2% to trade at $29.30 at press time. BCHABC was another coin which held its own and stopped its decline, trading at around $388 at press time.

Currencies with smaller market caps also continued to decline with Ethereum Classic (ETC) leading the way with a spectacular 12% decline where it traded at just over the $7.90 level at press time. There were some bright sparks however with CELR and LINK up by 15% and 14% respectively, whilst VET posted a more conservative 5% rise.

New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.

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