- Bitcoin price has fallen by 17.8% in the last hour.
- Also, the crypto market cap has sunk by 31.7%.
- Bitcoin is currently trading at $33,159.69.
The crypto market is in flames as Bitcoin plunges 25% in the last 24 hours with 17.8% in the last hour alone. At the time of writing, Bitcoin price is at $33,159.69.
Of note, analysts predicted that the top crypto would plunge further, but no one predicted that it would fall this low. Also, with a market dominance of over 40%, it means when Bitcoin sneezes the rest of the crypto market catches a cold.
As a result, the crypto market cap is down 31.7% with the entire crypto top 10 currently trading negatively. In fact, only one asset in the top 20 is trading upwards, Binance USD.
As Bitcoin falls further it’s getting harder to hodl. In addition, some investors are starting to question the ‘buy the dip’ mantra as the dip is getting harder and harder to find.
Nonetheless, crypto diehards are still holding the line. Binance CEO Changpeng Zhao, in particular, posted an interesting series of tweets. Including this reminder of how far the crypto market surged over the past year.
— CZ 🔶 Binance (@cz_binance) May 19, 2021
Popular businessman and crypto enthusiast Anthony Pompliano also tweeted implying the slump is all in a crypto’s day work.
Every bull market has to indoctrinate the new class of crypto enthusiasts.
Volatility is the name of the game.
— Pomp 🌪 (@APompliano) May 19, 2021
However, the truth remains that crypto is a risky game and only time will tell how low the market will actually fall.