The bullish momentum that seemed to have taken over the cryptocurrency markets last week appears to have fizzled out over the past 24 hours as almost all major cryptocurrencies posted losses. Bitcoin Core (BTC) was down by around 2% to trade at around $3,920 at press time, although further falls were expected even due to the low turnover that was prevalent over this period.
Ethereum (ETH) was also down by around 2%, trading at the $133 mark at press time on Tuesday although here the movement was not too pronounced. All other coins with similarly large market caps posted declines with these ranging from a minimal 0.2% in the case of EOS up to around 4% in the case of BCHABC, which was once again well down to around $157 at press time.
Ripple (XRP) was also a casualty of this bear market and was down by another 2% to slip below the $0.30 level for the first time this month. Litecoin (LTC) was also down by 2% to the $58.40 level and seemed to be retreating more from the psychologically significant $60 mark that it had breached with ease last week. Bitcoin SV (BSV) was down by 1% to the $64 level, whilst IOTA was down by around 3% to the $0.29 level.
Currencies with smaller market caps also saw declines, which, in some cases, proved to be considerable. Cardano (ADA) dropped by 2% and went below the $0.06 level, whilst Stellar (XLM) dropped a heftier 4% to just below the psychologically significant $0.10 level. NEO was also down by 2% to dip below the $8.90 mark and was trading at around $8.82 at press time on Tuesday. ICX and FET were down by 8 and 4% respectively, whilst Ethereum Classic (ETC) retreated by around 3% to the $4.64 level, and QTUM and VET also dropped by 6 and 4% respectively.
The Genesis protocol upgrade on February 4, 2020 is a monumental step in the history of Bitcoin, and will see BSV returned as close as possible to the original protocol as envisioned by Satoshi Nakamoto. Visit the Genesis Hard Fork page to learn more.
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