BITCOIN FALLS

Bitcoin prices (BTC) fell below $ 6,000 for the first time since the end of June, we reported on Tuesday, August 14, as the cryptocurrency community continues to be resilient.

Cointelegraph and Coin360 price tracking data show a gloomy environment for traders on Tuesday, with all major assets in red, as Bitcoin drops almost 5 percent in 24 hours. The top ten currencies are seeing up to 17 percent losses on the day, with the top 15 currencies dropping as much as 20 percent during the same period.

Market display

Market display of Coin360

At the close of this edition, the BTC / USD traded just above the significant barrier around $ 6 100, putting a cap on the weekly losses of 14 percent.

7-day Bitcoin price chart

Bitcoin 7-day price chart. Source: Source: Bitcoin price index of Cointelegraph

The pair has closed the circle since mid-July, when a sudden rise took over the market to bring prices to a maximum of around $ 8,450 in major exchanges.

The progress was then reversed as August began, which means that investors have seen monthly gains to date of only 3 percent.

However, the figures differentiate Bitcoin from the altcoins, and in particular from Ethereum (ETH), whose losses reach 16 percent on the day and almost 35 percent in the week.

In the last 30 days, the ETH / USD has fallen almost 40 percent.

The 30-day Ethereum price chart

The 30-day Ethereum price chart. Source: Coherelegraph Ethereum Price Index

In social networks, the commentators looked at the chain effect that the volatility of Bitcoin prices has traditionally in the altcoin markets, producing higher movements both upwards and downwards in those assets.

As the Bitcoin domain -or the percentage of the total capitalization of Bitcoin's crypto-market- reaches levels not seen since December 2017, Twitter analysts are also asking for a repeat of the altcoin bull market that began in the second half of the year. that month.

They affirm that a greater dominion of the market of Bitcoin can give a turn of 180 degrees in the downward trend of the Altcoins.

Others were less safe. In his comments on Monday, Xapo president Ted Rogers considered current conditions conducive to producing an "extinction level event" for mass cryptocurrencies.

"More than 90% of the CoinMarketCap list will disappear over time, it could happen now," he warned on Monday.

Elsewhere, other major assets have lost between 10 and 15 percent of their value, including Ripple (XRP), Litecoin (LTC), EOS (EOS), and Cardano (ADA).