The price of the top cryptocurrency, bitcoin, dipped to $4,680 for the first time since October 2017, forcing other cryptocurrencies to fall even deeper. Thus, unsurprisingly, the main bitcoin fork, bitcoin cash, is down for almost 44%, according to the data from coinmarketcap.
It is considered by experts that because of the panic everyone pulls its mining power from bitcoin to bitcoin cash which, despite recent network hard fork and hash war, looks like a better alternative to bitcoin that is losing its strength.
Bitcoin price chart for the last 7 days
Bitcoin cash price chart for the last 7 days
Overall, the cryptocurrency market capitalization shrank to 153 billions, losing more than 60 billions during the last seven days. Most top cryptocurrencies are in red with ethereum losing more than 15% and stellar losing 8%.
The only cryptocurrency that remains relatively stable is ripple that is down for less than 1%. Many experts believe that by that pace, XRP will become No.1 cryptocurrency on market capitalization by the end of the year.
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