The cryptocurrency markets went into freefall as Bitcoin dropped from $13,063 to $11,497, an 11.6 percent drop over the course of 19 hours.
The altcoin market saw even greater damage, with the average altcoin losing 12.8 percent.
The market is seeing double-digit losses across the board without any major attributable news.
Bitcoin reported trading volume is up from July 9 values from $28.2 billion to $33.6 billion-a 19.1 percent increase.
Overall market capitalization took a major hit falling from $342 billion to $299, evaporating $43 billion in capitalization value.
Bitcoin dominance remains at highs not seen since the 2017-2018 bull market.
Some may attribute this volatility to 'major news,' but the vast majority of announcements have a nominal impact on the Bitcoin price, despite what pundits and crypto publications may suggest.
Notable coins that weathered the drop were all product-related coins, including Chainlink, Binance Coin, Basic Attention Token, and Maker.
Realized price per Bitcoin continues to climb to make new yearly highs, which is the average approximate price each holder paid for their coins.
On average, investors paid $5,233 for their coins versus the current market price of $11,497-meaning that the average hodler is still up 119 percent.
Markets go into freefall as Bitcoin drops by 11.6%; Chainlink, Binance Coin, Basic Attention Token resilient
gepubliceerd op Jul 11, 2019
by Cryptoslate | gepubliceerd op Coinage
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