Crypto Market loses $ 6 billion as Bitcoin Dips under $ 3,700

Cryptocurrency ecosystem sales have apparently not been terminated yet, as in the last 24-hour period, it has lost about $ 6 billion, as most top cryptographic curves are currently down. Bitcoin, the flagship cryptocurrency, is now trading below the $ 3,700 value.

According to CryptoCompare data, BTC has lost 3.1% of the value in the period, and as such, trading is $ 3,680. The trading volume, as recently mentioned, has recently hit a 7-month high, while the adoption has been growing.

As CryptoGlobe covered Lightning Network (LN), bitcoin's layer-to-scaling solution, has just seen its capacity over 500 BTC and it has for over 15,000 open pay channels. This month, a cryptographic artist sold a small piece of artwork for a milisatoshi – about $ 0.000000037 – through it.

In addition, the number of ATMs for cryptocurrency has doubled to over 4,000 this year, which means 6 of these machines were installed every day this year. Most of these are located in the United States, and the cryptotermin market is expected to grow to nearly 145 million dollars by 2023.

The cryptocurrency fall comes in a volatile stock market period. Earlier this week, Dow increased over 1000 points, making it the largest single-day rally that has ever seen. Shortly after, it started to go down and yesterday the market closed in green after restoring the losses it saw that day.

Some analysts believe that the stock market's recovery could be behind BTC's latest sales. Anthony Pompliano recently defended that bitcoin remains a non-correlated asset. According to his words, BTC's correlation with S & P 500 and Dow is "near zero".

As eToro senior market analyst Mati Greenspan, Pompliano revealed that he believes the BTC could fall below the $ 3000 value, but a short-lived decline won I do not believe that bitcoin will become a legal property class. He stated:

Crypto is still only quite small, and so if we have a fixed-line item (like bitcoin), [when] will increase demand … we [potentially] will get an increase in price.

Bitcoin was especially one of the cryptos that dropped at least the last 24 hours. Most top environments, including Ethereum's ether, XRP and TRX, fell over 5% over the period, while litecoin and monero actually rose less than 0.5%.

Bitcoin Cash (BCH) appears to be the biggest loser, as it is down almost 10% in the last 24 hours, trading at just over $ 150.7. Behind it is Bitcoin Cash Satoshi's Vision (BSV), down 7.9% to $ 86.4.