{"id":378135,"date":"2019-04-12T07:00:57","date_gmt":"2019-04-12T07:00:57","guid":{"rendered":"https:\/\/wncen.com\/?p=378135"},"modified":"2019-04-12T05:45:41","modified_gmt":"2019-04-12T05:45:41","slug":"crypto-market-wrap-16-billion-selloff-begins-where-will-it-end","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/crypto-market-wrap-16-billion-selloff-begins-where-will-it-end\/","title":{"rendered":"Crypto Market Wrap: $16 Billion Selloff Begins, Where Will it End?"},"content":{"rendered":"
As expected crypto markets are finally dumping as we end the week. Over $16 billion has been lost as markets fall from their 2019 high back to $170 billion or so. Bitcoin initiated the dump but so far has remained above key support levels. It is the altcoins that are bleeding today.<\/p>\n
Bitcoin fell below $5,000 for the first time in a week and settled at $4,950 before recovering slightly. The failure to break resistance at $5,400 has sent BTC back down as it drops around 4% on the day. Many had predicted this pullback and foretell further losses back to major support at $4,600 where the 200 day moving average is.<\/p>\n
Ethereum has fallen harder as expected with a drop of 5% back below $165 again. There was no push to $200 for ETH which is still rising and falling along with its big brother. The gap between it and XRP<\/a> in third is now much larger though at almost $4 billion market cap.<\/p>\n The top ten is a sea of red during today\u2019s Asian trading session. The altcoins are getting hammered, some by double digits. Litecoin is losing 9% today as it falls back to $77, EOS and Bitcoin Cash<\/a> are not doing a great deal better with 24 hours loses of 6 \u2013 7 percent. Stellar and Cardano have both dumped 5% as Tether moves back up the chart.<\/p>\n The top twenty is awash with equal pain as Bitcoin SV, Ontology and Maker dump ten percent a piece. Close behind is Tron, NEO and Ethereum Classic with losses of over 6% on the day.<\/p>\n Despite the massive market correction Crypto.com\u2019s Chain is flying today with a 25% fomo pump to $0.093 (1860 satoshis). There does not appear to be much driving the fomo, the only recent news is that the company donated $500k to Binance charity. South Korean markets are dominating trade in CRO with Upbit taking 40% of the total volume.<\/p>\n TrueChain is also getting fomo today with a 20% pump and Lambda is the third altcoin in double digits at 17%. KuCoin Shares are still getting dumped with a further 11% lost today. ABBC Coin and Revain, the usual suspects, are also dumping 10% each following recent pumps.<\/p>\nFOMO: Crypto.com Crushing It<\/h2>\n