Crypto market daily report – March 4, 2019

The cryptocurrency markets began a slight decline on Monday morning at press time with the vast majority of coins demonstrating a drop in price. Bitcoin Core (BTC) was down by around 2% to the $3,750 level, although this was not so pronounced. Ethereum (ETH) suffered an even bigger drop, sinking below the psychologically significant $130 level to settle at $127 at press time on Monday. Although the post-fork environment has not been so troubled, it does appear to finally be having an effect with the coin dropping by almost 12% since Friday.

Bitcoin SV (BSV) was down by 5% to the $63 level, along with Cardano (ADA) and IOTA, which also lost considerably over the past 24 hours with the former down by 4% to the $0.0410 level, whilst the latter suffered a considerable 7% loss to dip below the $0.28 mark for the first time in a while. Litecoin (LTC) was down by around 2% although here the drop was not so pronounced and could have been due to the recent announcement that Thailand was banning this currency along with Bitcoin Cash (BCHABC), which was also down by 5% and will probably begin to retest the $120 level anytime soon. Bearish tendencies also affected NEO which was down by no less than 4.5% to the $8.33 mark.

The only coin which saw a slight improvement in its price was Stellar Lumens (XLM) which was up by around 4% to the $0.083 level. Again, this could be due to the fact that Thailand announced that it was one of the coins which will be accepted in the country. Ripple (XRP) was also down by around 2.5% and once again appears to be retesting the $0.30 level with the coin having been trading in the $0.30 to $0.35 area for some months now. Smaller market cap currencies also suffered with BTT, ETC, ICX and FET down from 4% to a massive 19% in the case of the latter.

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