Bitcoin (BTC) Falls 8%,14-Month Lows In Sight Again
The major cryptocurrencies traded lower Monday, unable to capitalize on last week’s rebound off multi-month lows.
Bitcoin (BTCUSD, the world’s largest cryptocurrency, has fallen as much as 8% and is nearing last week’s multi-month low around $3,500.
On the Kraken cryptocurrency exchange, a Bitcoin was fetching $3,822.50, down 8.1%, since Sunday’s mark at 5:00p EST.
Currently, Bitcoin is trading at: 3,891.88,+20.47, or +0.5287%, as of 1:43a GMT, the market is open
Crypto-exchange founder says Bitcoin’s fall is nothing to worry about
After finishing last week significantly lower the altcoins, or coins other than Bitcoin, have extended losses into Monday session.
- Ether ETHUSD is down 8.6% at $106.42
- Litecoin LTCUSD, -0.10% has fallen 10.2% to $30.49,
- XRPXRPUSD, +0.08% has slid 6.6% to 34 cents, and
- Bitcoin cash BCHUSD, -0.44% is off 10.9% at $155.10.
The Altcoin under-performance has dragged Bitcoin’s share of the total market for all cryptocurrencies to 53.7%, up from 37.8% since the beginning of Y 2018, according to data from CoinMarketCap.
Bitcoin futures finished Monday lower too
The Cboe Global Markets (NASDAQ:CBOE) December contract XBTZ8 ended down 3.4% to $3,802.50, and the CME Group (NASDAQ:CME) December contract BTCZ8, +0.92% closed Monday’s session down 3.2% to $3,800