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Bitcoin+Plunged+Below+%245%2C000+as+Crypto+Market+Trend+Slightly+Changed+to+Red

Bitcoin Plunged Below $5,000 as Crypto Market Trend Slightly Changed to Red

 

On April 4 right after the first major bullish move in 2019, the crypto markets gradually changed to slightly red today. Also, Bitcoin (BTC) dropped below the $5,000 threshold level. Over the last 24 hours, out of that 20 top coins by market capitalization only two altcoins are trading with some growth over the day.

NEO [NEO] and Ontology [ONT], ranked 17th and 18th by market cap, are up around 4.4 and 3.8%, respectively.

The first generation cryptocurrency bitcoin is trading at $4,972, slightly dropping around 2% over the last 24 hour period. Bitcoin hit the highest value since November 2019 reaching $5,303. But currently the cryptocurrency is struggling to hold the $5,000 support level, having dipped below the level.

However, at the time of press bitcoin dominance on the market has slightly hiked accounting for 51% of the market with a market cap of about $800 billion.

The second generation and the second top cryptocurrency by market cap Ethereum [ETH] is trading down by 6.3%, trading at $161 at the time of press. The market surge has affected the cryptocurrency and is trading up 15% higher in the past 7 days.

The second ranked altcoin Ripple [XRP] is trading down by 6.5%, trading at $0.338 at the time of press. Currently the cryptocurrency is trading with 9% over the past 7 days.

While considering Bitcoin Cash [BCH] that jumped over 50% yesterday, is down by 5% over the past 24 hours. But the coin has acquired a massive gain of approximately 68% over the past 7 days which is the biggest increase among top 20 coins by market capitalization according to CoinMarketFeed.

At the press time the daily trading volume has plunged to $77 billion after hitting the all-time high of $86.5 billion yesterday. Overall market cap dropped slightly to $172 billion after hitting $187 billion yesterday. The number of cryptocurrencies listed on CoinMarketFeed now amounts to 2,149.

Right after the crypto rally on April 2, the founder and CEO of cryptocurrency investment firm BKCM, Brian Kelly predicted that the next Bitcoin target will be $6,000. Recently, bitcoin analyst Tone Vays shared his opinion that the crypto market surge may have no particular catalyst, and that lower prices could still be in the cards.

Earlier today CoinMark reported Changpeng Zhao (CZ), CEO of the second-largest crypto exchange Binance, announced that its fiat-to-crypto exchange subsidiary in Singapore will be opened later this month.