RATE Group | Cryptocurrency Market Sees Red as Bitcoin Slumps Below $11,000
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Cryptocurrency Market Sees Red as Bitcoin Slumps Below $11,000

14 Aug Cryptocurrency Market Sees Red as Bitcoin Slumps Below $11,000

Posted at 10:39h in Cryptocurrency News by

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Tuesday, Aug. 13 — Bitcoin (BTC), Ether (ETH) and XRP continue to bleed amid a crypto market turning red. 

Market visualization. Source: Coin360

Bitcoin is trading at $11,005 at press time, with a 3.83% loss on the day. Bitcoin broke $12,000 three days in a row, from Aug. 6 to Aug. 8., but never managed to hold these highs for a significant period of time. Then on Saturday, Aug.10, BTC price fell by about $400 in just an hour. Price has continued downward since then, and has even dipped below $10,900 today.

Bitcoin 7-day price chart. Source: Coin360

The number two cryptocurrency, Ether, appears to be declining more gradually than BTC. At press time, ETH is trading over $208 and is down by 1.62% on the day. However, Ether investors remain bullish on the token’s long-term prospects, with 54% of respondents in a Twitter survey reporting that they believe ETH will retake the $1,000 mark at some point.

Ether 7-day price chart. Source: Coin360

The number two alt by market cap, XRP, is…

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