Bitcoin and Ethereum Dip Again, Cardano and Solana Drop Harder, This Altcoin Still Performs Strong

Last week was a turbulent week in the world of cryptocurrencies and it looks like it’s not over yet. Share prices received a boost from Twitter news a week ago, then took a significant blow from the situation surrounding Chinese real estate company Evergrande.

The crypto market was able to recover slightly after that, but prices plummeted again on Friday due to a ban in China. At the time of writing, however, the prices are once again making a dip down. Total market cap failed to recover to $2 trillion this week, dropping to $1.88 trillion this morning.

Bitcoin

Bitcoin (BTC) was above $48,000 a week ago and then dropped all the way to $40,000. The price then briefly recovered to $45,000, but then dipped back to $41,000. Yesterday, volatility started to decrease and the price to consolidate. However, they failed to recapture $43,000 and things looked rather shaky. Last night, $43,000 was rejected again and bitcoin fell back to $42,000. This morning, bitcoin made another significant dip, once again dropping below $41,000.

Bitcoin has fallen to this level three times this week, but has held up each time, so it may be back now. Still, it doesn’t look very stable and a decline towards $39,000 is also possible. Bitcoin is down as much as 14% this week and a retest of $50,000 now seems to be just as far away for now.

altcoins

Altcoins generally have it tougher today. Ethereum (ETH) failed to break through USD 2,950 yesterday, slipping back to USD 2,850 overnight and is currently dipping to USD 2,750. Ether has also tapped this lower bound three times this week, but it is very uncertain whether it will hold. The ether price is even 19% in the negative this week.

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Cardano (ADA) got a big boost last night by this news. The ADA price rose to $2.45, but then fell harder again. ADA dips to USD 2.15 this morning, down 12%. Still, ADA is ‘only’ 8% down this week, the least out of the top 10.

Binance coin (BNB) also dips link downwards for a while. The BNB price comes in at $322 and is down 22% this week. Solana (SOL), which recently made a huge rally, suffered the worst among the largest crypto this week. SOL falls to $125 and is down 25% this week. Polkadot (DOT) is also falling sharply this morning. DOT comes in at $27.3 and is down 23%.

A number of Chinese crypto took the hardest hit this week. EOS (EOS) and iota (MIOTA) are both down 33% compared to a week ago. Filecoin (FIL) is down almost 40% and huobi token (HT) more than 50%. Huobi, the largest Chinese cryptocurrency exchange just announced that it will shut down all customers from mainland China by the end of this year:

However, there is also a single exception in the crypto market this week. Celer Network (CELR) stormed into the top 100 again last week. The CELR price is up 60% this week and even more than 300% this month. CELR jumped up again this morning and reached a new one all time high (ATH) of $0.195.

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