Market Update: Uncertainty Strikes Crypto Traders After Week-Long Downtrend

Three days ago, cryptocurrency markets were holding foundational support after coins plunged 2-14% and the entire cryptoconomy dropped below $200 billion. Crypto prices continued to slide in a bearish trend, and over the last 12 hours, the entire market valuation of all 3,000+ coins lost another $7 billion. However, after BTC dropped to a low of $6,529 per coin, digital currency markets bounced back, erasing most of the losses inflicted during the morning trading sessions.

Also Read: Gocrypto SLP Token Starts Trading on Bitcoin.com Exchange

BTC Markets Quickly Plunge Below $7K But Regain the Losses Hours Later

Typically after a few days of bearish sentiment, cryptocurrencies rebound, gathering back some of the percentage losses or erasing them entirely. That’s not the case this Monday as digital asset values have continued to slide and today most coins are still down over the last seven days. BTC markets dropped below the $7K zone, touching a low of…