Market in red: Bitcoin price drops close to 4% in the last 24 hours.
The price of bitcoin has had a correction of around 3.7% in its value during the last 24 hours, going from USD 8,769 to USD 8,445, in data from the portal CoinMarketCap.
Even at some point on the morning of this Friday, May 31, the pioneer cryptoactive was quoted at USD 8,173, after slightly exceeding USD 9,000 on Thursday afternoon, which marked its maximum price during 2019.
In addition to the fall of BTC, the price of the main altcoins has also fallen on the last day. In fact, among the 20 cryptocurrencies with the highest market capitalization, there are no profits during the 24-hour period at the time of writing this note.
The total cryptocurrency market lost 2.63% of its capitalization, going from USD 273, 8 billion to USD 266.6 billion.
The biggest fall was chainlink (LINK), with more than 15% in red. Also OMG (-10.16%), tezos (XTZ), negatively highlight omisego, with about 10% less; tron (TRX), which has lost almost 9% of its value; and ontology (ONT). The price of the latter has fallen 8.8%.
Among the top 10 of the market, ether, ripple and bitcoin sv have been the most affected, with 7.93%, 7.44% and 7.38% less during the last 24 hours, respectively.
Despite the correction recorded this Friday, BTC’s performance this week remains in green numbers. Last Friday, its price was barely above USD 8,000. In the last 7 days, it maintains gains close to 3.5%.
There are no clear signs of what caused the decline in the market. However, one possibility is the profit taking by investors selling while the price is high.
Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.