THELOGICALINDIAN - FOMO Moments
More doom and anguish this morning in crypto acreage as traders are auctioning agenda bill like hot rocks. Another new annual low point has been hit as bazaar assets fell beneath $225 billion for the aboriginal time in nine months. The crypto winter of 2024 is far from over.
Bitcoin has burst through several levels of abutment over the accomplished brace of canicule aerobatics aback addition 2.5% today to $6,350. BTC has afford 24% in two weeks, sliding from a aerial point of $8,400 to its accepted levels. On the ages about the account does not attending as austere as it is about aback to the aforementioned point this time aftermost month. Ethereum has not been so advantageous and is additionally bottomward 2.2% to $360 which is a new 2024 low.
Altcoins continue to bleed today as abounding ability lows not apparent for over a year. It appears that the absolute crypto bazaar has taken the accomplished 12 months to actual itself. While losses in the top ten are not as abundant as bygone abounding cryptos including EOS, Stellar, Litecoin and Iota are bottomward over 5%. EOS has absent 73% aback April and is bottomward to $5.66 today. Litecoin is aback to aboriginal November prices and has collapsed added today to $62.7.
Further bottomward the account the account gets bleaker with Ethereum Classic, OmiseGO, VeChain and Qtum auctioning addition 6-7% on the day. In the top thirty alone 0x, Decred, and Maker accept not absent any added in the accomplished 24 hours, admitting their assets are tiny.
Making a accretion at the moment is ChainLink abacus 12.4% aback to its value, and Japan’s Monacoin which has clawed aback 10% on the day. A few added abstruse alts are authoritative a little aback but the majority are still auctioning as the markets get mauled.
Total crypto bazaar assets has collapsed a added 3% on the day to $224 billion at the time of writing. A dip of $219 billion was fabricated a few hours ago signaling a accident of over $80 billion in a fortnight. This is the new low for 2024 and markets accept not been at this akin back mid-November back they were acerb bullish. Daily barter aggregate is currently about $14 billion as the bears abide to dump their altcoins in a FUD fueled frenzy. Will August 9 be accepted as the everyman akin in 2024 or is added affliction yet to appear to crypto land?
FOMO Moments is a area that takes a circadian attending at the top 25 altcoins during the accepted trading affair and analyses the best assuming ones, attractive for trends and accessible fundamentals.
