Crypto update: Bitcoin, Ripple, Ethereum, Bitcoin Cash, and Litecoin continue to fall

Bitcoin, Ethereum, Ripple, Bitcoin Cash, and Litecoin prices have continued to slide lower as trader sentiment weakens…

a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The crypto market has continued its poor run with almost all the top ten coins sinking into the red over the last 24 hours.

This has taken the entire value of the market down to US$374.6 billion according to Coin Market Cap, 1.5% lower since this time yesterday.

Here is the state of play on Friday morning:

The Bitcoin (BTC) price is down 1% since this time yesterday to US$8,229.56 per coin, reducing its market capitalisation to US$140.2 billion. The world's largest cryptocurrency has tumbled despite positive words out of Twitter and Square CEO Jack Dorsey overnight. Reports state that he told those in attendance at the Consensus blockchain conference that the internet needs a native currency and that he hoped it would be Bitcoin.

The Ethereum (ETH) price has fallen 1.6% over the last 24 hours to US$688.14. This leaves Ether with a market capitalisation of just under US$68.5 billion.

The Ripple (XRP) price has tumbled 2.5% over the period to 67.6 U.S. cents, taking its market capitalisation down to US$26.5 billion.

The Bitcoin Cash (BCH) price has dropped almost 4% since this time yesterday to US$1,224.94. This has reduced the Bitcoin offshoot's market capitalisation to just under US$21 billion.

The EOS (EOS) price is the only cryptocurrency in the top ten pushing higher over the last 24 hours. EOS is up almost 3% to US$12.78, lifting its market capitalisation above US$11 billion.

Outside the top five it was a similar story with Litecoin (LTC) falling 2.5%, Cardano (ADA) dropping 0.5%, Stellar (XLM) down 2.5%, IOTA (MIOTA) off 3.5%, and TRON (TRX) down 3%.

What's next?

As I said yesterday, with trader sentiment appearing especially weak right now, I can't help but feel that the crypto market will continue to edge lower until a positive catalyst appears.

Because of this, I think traders should consider sitting this one out and watching on from the safety of the sidelines.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on ⏸️ Investing

A white and black robot in the form of a human being stands in front of a green graphic holding a laptop and discussing robotics and automation ASX shares
Technology Shares

Joining the revolution: How I'd invest in ASX AI shares right now

Advances in artificial intelligence (AI) could usher in a new industrial revolution. Here’s how you can invest in it.

Read more »

Close up of baby looking puzzled
Retail Shares

What has happened to the Baby Bunting (ASX:BBN) share price this year?

It's been a volatile year so far for the Aussie nursery retailer. We take a closer look

Read more »

woman holds sign saying 'we need change' at climate change protest
ETFs

3 ASX ETFs that invest in companies fighting climate change

If you want to shift some of your investments into more ethical companies, exchange-traded funds can offer a good option

Read more »

a jewellery store attendant stands at a cabinet displaying opulent necklaces and earrings featuring diamonds and precious stones.
⏸️ Investing

The Michael Hill (ASX: MHJ) share price poised for growth

Investors will be keeping an eye on the Michael Hill International Limited (ASX: MHJ) share price today. The keen interest…

Read more »

ASX shares buy unstoppable asx share price represented by man in superman cape pointing skyward
⏸️ Investing

The Atomos (ASX:AMS) share price is up 15% in a week

The Atomos (ASX: AMS) share price has surged 15% this week. Let's look at what's ahead as the company build…

Read more »

Two people in suits arm wrestle on a black and white chess board.
Retail Shares

How does the Temple & Webster (ASX:TPW) share price stack up against Nick Scali (ASX:NCK)?

How does the Temple & Webster (ASX: TPW) share price stack up against rival furniture retailer Nick Scali Limited (ASX:…

Read more »

A medical researcher works on a bichip, indicating share price movement in ASX tech companies
Healthcare Shares

The Aroa (ASX:ARX) share price has surged 60% since its IPO

The Aroa (ASX:ARX) share price has surged 60% since the Polynovo (ASX: PNV) competitor listed on the ASX in July.…

Read more »

asx investor daydreaming about US shares
⏸️ How to Invest

How to buy US shares from Australia right now

If you have been wondering how to buy US shares from Australia to gain exposure from the highly topical market,…

Read more »