- Major coins are in red, staying close to the short-tern support levels.
- BTC/USD attempts to recover from $3,900.
Cryptocurrency market is in red with all major coins nursing losses from 0.3% to 6% on a day-on-day basis. The total capitalization of all digital assets in circulation has slipped to $137.9B from $140B registered the day before, though an average trading volumes climbed to $33B.
Bitcoin bulls continue to create a positive buzz around Bitcoin and cryptocurrency market as a whole, but the optimistic comments have little effect on the market. Thus, Mike Novogratz recently noted that Bitcoin’s value would surpass the market cap of gold in 20 years.
Cisco published a report on blockchain technology, saying that it will be worth $10B by 2021.
Bitcoin (BTC) lost 1.5% of its value since this time on Monday to trade at $3,920 at the time of writing. The first digital coin touched $3,906 low during early Asian hours before the upside correction set in. Buyers are likely to push the prices towards the upper border of the recent short-term channel, away from the critical support $3,900.
Ethereum (ETH) is also down 1.5% at $134.76. The second largest coin managed to recover from under $134.00, but the upside momentum is fading away on approach to $135.00. Ethereum is moving in sync with Bitcoin amid directionless market.
Ripple (XRP) is changing hands at $0.3027, down 1.7% on a day-on-day basis. The third largest digital asset is supported by critical $0.30, while the recovery attempts are likely to hit a brick wall on approach to $0.31 handle.
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