Bitcoin has crashed. Altcoins are bleeding. The panic is making things even worse for Bitcoin and other digital currencies out there. The worst case scenario provided by Masterforex-V Academy experts has finally manifested itself - a break below the bottom of the 9000-9400 range resulted in an instance crash by more than 15% just within a single trading session. In a matter of 12 hours the Bitcoin market lost 37 billion dollars of market capitalization.
If we take a look at other popular altcoins, the situation is even worse. Some of them have already lost over 30% of their market cap over that last 7 days. It's interesting to note that some exchanges offered under 8000 dollars per coin at some point.
Bitcoin - Crypto Market Is In Panic
Apparently, the BTC crash has been affecting the entire global market if digital currencies. We haven't seen such a strong market crash since November 2018. Given this year's high set at 13800 dollars per coin, at this point, Bitcoin has already lost over 40% of its value relative to the mentioned high. Today's trading session is being accompanied by increasing trading volume as the market panic is getting stronger. Experts say that the bearish target is located at 7400 dollars per coin, which is bad news for those holding long positions.
Bitcoin Crashes, Altcoin Crash Even Harder
The second-biggest digital currency - Ethereum - has already crashed by more than 20%. In 2 hours, the entire September gains were reduced to nothing. Which is even worse, the price broke below a major level of support, which means the downtrend may go down as deep as 100 dollars per coin.
At this point, the list of the top 10 cryptocurrencies looks like this:
