The Digital Currency market has made a new low for 2018 today as the overall market valuations have dropped below $200 billion. The market is reeling under a heavy selling pressure as over $25 billion have been wiped off the market in the last 24-hours. Bitcoin has lost nearly 7% in the last 24-hours as the world’s largest digital currency dipped below $6000 mark, momentarily, before finally recovering back.

As per the global charts on CoinMarketCap, the cryptocurrency market has dipped to a low of $189 billion which is the lowest in the last nine months since November 2017. However, today’s price fall in Bitcoin is relatively low in comparison to other altcoins which have been the major reason for the huge slump in the market valuations.

Data on the CoinMarketCap shows that except the Bitcoin, almost all the other top-twenty cryptocurrencies have lost between 10-20%. Ethereum, Bitcoin Cash, Litecoin, Ripple and EOs have lost nearly 15% in the last 24-hours. Ethereum has been the major loser as the cryptocurrency has lost over $60, nearly 20%, with its market cap standing at just $26 billion.

Statistics show that in the last one week, the overall cryptocurrency market cap has dropped by 25% while Bitcoin has lost nearly 16% during the same period. The worst hit has been Ethereum which has lost nearly 40% in the last one week from a high of $410 to making a low of $256 today.

As the market and other altcoins are making a new low, Bitcoin dominance in the cryptocurrency market has spiked up as it alone accounts for 54% of the overall market cap.

The post Cryptocurrency Markets Make a New 2018 Low Below $200 Billion appeared first on CoinSpeaker.

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