Bitcoin, Other Cryptocurrencies Continue To Drop In Down Market

Investing, News | December 6, 2018 By:

Crypto market prices continued down today, mirroring the decline in the US stock market. The top ten coins were down except for Bitcoin SV, which is involved in a war with its Bitcoin ABC rival (listed as Bitcoin Cash in most locations) and is being artificially propped up.

In early trading, bitcoin was down to the $3,600 level on heavy volume, down about four percent over the last 24 hours. Ether was also below the $100 level for the first time in ages, hitting $97, down more than seven percent.

Bitcoin Cash was particularly hard hit, dropping more than 13 percent over the last day ,while Stellar Lumens (down nine percent) and Litecoin (down almost five percent) were also hard hit.

Will there be a Santa Claus rally?  The tables are set for a big bounce back at some point. Whether it arrives this month remains to be seen.