Another Huge Dip After UPbit Got Raided — A Market Analysis
After news about a raid of the South Korean exchange UPbit earlier this day the market dipped more than $32 billion USD today:
Total Market Capitalization:
After starting in the day with a slow decrease the market dipped huge midday only to once more stabilize itself in the last couple of hours. Adding this up we do see an decrease of more than $32 billion USD today, from nearly $428 billion USD total market capitalization 24 hours ago to more than $394 billion USD total market capitalization at time of writing:
Dominance (Percentage of Total Market Capitalization):
Following this dominance charts for the past several months it seems like Bitcoins dominance grows quite substantially in times the market isn’t doing great. On an increasing market like we see lately Bitcoins dominance seems to decrease while those of altcoins seem to rise.
| Cryptocurrency | Dominance |
|---|---|
| Bitcoin [BTC] | 37,40% |
| Ethereum [ETH] | 17,45% |
| Ripple [XRP] | 6,99% |
| Bitcoin Cash [BCH] | 6,16% |
| Litecoin [LTC] | 2,02% |
| IOTA [MIOTA] | 1,34% |
| NEO [NEO] | 1,10% |
| Monero [XMR] | 0,85% |
| Dash [DASH] | 0,83% |
| NEM [XEM] | 0,75% |
| Others | 25,11% |
Top 15 chart (measured by their Market Capitalization):
Reflecting the huge dip today we aren’t able to spot a single green number in our top 15 chart. Worst performing Cryptocurrency in our top 15 chart is EOS [EOS] with an decrease of more than 15% over the course of the last 24 hours followed by IOTA [MIOTA] with an decrease of more than 13% today:
Top Gainer Today (out of the Top 100):
Only five green numbers can be spotted in our top 100 chart, measured by their market capitalization, today with the best performing Cryptocurrency in it being once more Augur [REP] with an increase of more than 17% over the course of the last 24 hours followed by Nuls [NULS] with an increase of nearly 10% today:
Top Loser Today (out of the Top 100):
Worst performing Cryptocurrency in our top 100 chart is Bitcoin Diamond [BCD] with an decrease of nearly 21% over the course of the last 24 hours followed by Bytecoin [BCN] decreasing more than 20% today after spiking well over 100% after being listed on Binance two days ago:
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Disclaimer: I'm in no way a financial advisor. I just state my opinion! Never do investments because someone told you or in the fear of missing out! Take your time to research. Don't be sheep, develop critical thinking on your own!
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BTC to $7,700 thoughts? I think higher powers are doing whatever they can to manipulate the market and get the best entry. Keep up the good work! :)
8000 BTC just got sold today buy a trustee. They should not sell that huge amounts on exchanges they should try to sell them first to private investors to not have that big of an impact on the market.
I agree, this only causes a panic to most people.