Crypto Exodus continues Sunday with another $ 23 billion dumped
A third big dump sends crypto markets stuping; No cryptocurrencies escaping exodus.
The third wave of sales that started yesterday has continued unabated this weekend. Total market value has been destroyed below $ 120 billion, and another $ 23 billion has been dumped from digital currencies over the last 24 hours.
Bitcoin falls to the expected bottom of around $ 3000, losing over 15% on the day when it dumped to $ 3,700 at the time of writing. BTC is now back to August 2017 prices, but goes in the wrong direction, so that further losses are expected. Since the beginning of November, Bitcoin has lost 43% in the year's largest sales outlet.
Obviously, Ethereum has bigger problems dumping 1[ads1]5% on the day to just over $ 100. This is lower than ETH has been for 18 months and back to prepump levels before ICO rush last year. The fear is that some ICOs who still have ETH will add this dumped, and the price will be further reduced.
Altcoins die a slow death, and most of them are hammered double figures again. The biggest loser in the top ten in Asian trade this morning is Stellar sliding 23% on the day back under $ 0.15. Bitcoin Cash and Cardano are not far away with 19% lost and dumps them to the lowest levels for well over a year. Even Tether can not make it much higher than $ 0.98 as the expiration continues.
Great pain is felt by Iota, Zcash and Tezos right now, everyone crashes over 20% of the day. Tron, Nem and Neo are not far behind to hit new all-time lows for the year. The only aggregates that appear green at the moment are a handful of stack coins. The biggest loser in the top one hundred at the time of writing is Japan's Monacoin which has been trounced 35%.
Total market value dumped to another 2018 a few hours ago when it struck 118 billion dollars. This represents a decline of 16% on the day when $ 23 billion went out of the door since the same time yesterday when the markets were over $ 140 billion. Over 90 billion dollars or 43% have been dumped so far this month in the crypt's worst for the year.
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