Bitcoin’s Downward Plunge Slows As Other Coins Begin To Recover

Investing, News | May 24, 2018 By:

The big battleship known as cryptocurrency slowly began turning today. Although bitcoin remained down once again, the rest of the market showed some signs of life after a brutal few days.

At mid-morning, bitcoin was down to $7,500, a drop of more than one percent. That actually represented progress, as the past several days have seen severe price plunges driving momentum decidedly toward the red arrows. Some pundits predicted a floor in the $6,000 range, and while it’s too soon to call that overly pessimistic, it appears that this particularly sell-off is grinding to a halt.

Ether was also down on the day, but the rest of the top ten coins showed gains ranging from one to four percent. EOS was the outlier, gaining slightly more than ten percent over the last 24 hours as it moves closer to its mainnet activation.