Indeed the flagship digital asset has lost more than 50% of its value over the last six months amid a sector-wide decline that has wiped more than $1.5 trillion from the global cryptocurrency market cap. As things stand, Bitcoin is trading at $28,145, down 11.03% in the last 24 hours and an incredible 28.22% across the previous seven days, according to CoinMarketCap data. Currently, the total market worth of (BTC), is $539.7 billion. Bitcoin is now -63% from its all-time high.
Bitcoin dominance
Although the Bitcoin dominance has risen over the past two days, as the price of Ethereum has broken lower against BTC many questions still remain amongst investors. According to crypto expert Rekt Capital:
Crypto expert opinions
Whatsmore, Rekt Capital highlighted more downside could be expected over the next few months if not weeks if Bitcoin loses the macro range of support around $28,000. Elsewhere, CEO of Eight and prominent crypto trading analyst Michaël van de Poppe stated: Due to the volatility of the crypto market, daily price movements may be substantial. As a result, it is important for investors to keep a closer eye on the market than just a fleeting glance, as any significant event might have a dramatic impact on Bitcoin’s price action. Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
