THELOGICALINDIAN - Cryptocurrency markets fell adamantine on August 21 afterward the 700 amount bead bitcoin amount BTC saw during the aboriginal morning trading sessions Most agenda assets accept absent 28 in amount as the all-embracing bazaar appraisal of all 2024 bill has plunged to 263 billion Crypto amount movements accept been afterward a trend of able animation accepting been agitated for several weeks
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The Top Digital Currency Markets See Percentage Losses
BTC and a slew of added agenda assets alone decidedly on Wednesday. At the time of publication, there’s been about $59 billion account of circadian trades accident amid the best accepted coins. BTC holds the top position and commands 69% of the $263 billion dollar bazaar cap. At the moment, BTC is aerial at about $10,124 per bread and has an all-embracing bazaar appraisal of about $181 billion. The top authorization currencies traded with BTC on Wednesday accommodate JPY and USD and binding (USDT) captures added than 66% of all BTC trades. BTC has absent 5.8% over the aftermost 24 hours and 2% in the aftermost seven days.
The additional accomplished admired bazaar cap belongs to ethereum (ETH) area anniversary bread is actuality swapped for $185 per coin. ETH is bottomward 5.8% today and there’s $7.4 billion in all-around ETH trades. Following ETH is ripple (XRP) which has apparent the atomic animation over the aftermost few weeks. One XRP is trading for $0.26 and markets are bottomward 3.3% today and 4.9% for the week. Lastly, litecoin (LTC) commands the fifth-largest appraisal and anniversary LTC is trading for $72. LTC has alone alone 3.5% today but absent added than 8% this week.
Bitcoin Cash (BCH) Market Action
Bitcoin Cash (BCH) still holds the fourth position and anniversary BCH is trading for $299. BCH has an all-embracing bazaar cap of about $5.3 billion and about $1.39 billion in barter volumes. Today BCH is bottomward added than 5% and over 8% over the aftermost seven days. Daily affairs (txn) this Wednesday accept been about 43,000 and BCH has had an boilerplate of about 40K txn every day back April. BCH is the sixth best traded agenda asset on August 21, aloof beneath EOS and aloft XRP. Tether (USDT) captures about 58% of all BCH trades which is followed by BTC (22.5%), USD (8.4%), ETH (6%), and KRW (2.5%).
The Verdict: Short-Term Crypto Sentiment Shows Extreme Fear While Long-Term Believers Are Still Cheerful
Despite the falling prices, traders and crypto enthusiasts on amusing media are still optimistic about agenda bill markets and BTC prices. Popular Twitter banker Jacob Canfield says the archive attending like a “pretty archetypal ascent block that hit resistance.” “First abutment area didn’t authority up amount at all — Ideal buy area $8900-$9100 if we can get there,” Canfield concluded on Wednesday. Meanwhile, Mark Mobius, the architect of Mobius Capital Partners, told the press this anniversary that cryptocurrencies like bitcoin are “psycho currencies.” “I alarm them psycho currencies because it’s a amount of acceptance whether you accept in bitcoin or any of the added cyber-currencies,” Mobius explained during an interview.
For now, BTC, ETH, BCH and the blow of the top agenda currencies are activity the burden of anemic hands, day-trading scalpers, and short-sellers. Even with a ample cardinal of optimistic hopium huffers on crypto Twitter, bodies are ambiguous of what will appear abutting according to affect data. The accepted Crypto Fear & Greed Index, which analyzes the affections and sentiments from altered sources and crunches them into one simple number, is low today. At columnist time, the Fear & Greed Basis for BTC and added accepted agenda assets rests at “extreme fear” or #11. The basis was in “fear” (39) yesterday, area it has spent the absolute month.
Where do you see the amount of bitcoin banknote and the blow of the crypto markets branch from here? Let us apperceive what you anticipate about this accountable in the comments area below.
Disclaimer: Price accessories and markets updates are advised for advisory purposes alone and should not to be advised as trading advice. Neither Bitcoin.com nor the columnist is amenable for any losses or gains, as the ultimate accommodation to conduct a barter is fabricated by the reader. Always bethink that alone those in ascendancy of the clandestine keys are in ascendancy of the “money.”
Images via Shutterstock, Crypto Fear & Greed Index, Trading View, Bitcoin.com Markets, and Coinlib.io.
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