Once again, the cryptocurrencies market is dropping due to the latest events. Bitcoin, Ethereum, and Ripple are declining and look like will keep going bearish for a period.
At the moment, there is not even a single top 10 crypto coin that shows an incline
All the top cryptocurrencies are red showing a decline that ranges between 0.91% (Stellar XLM) and 9.91% (Cardano ADA).
Even the top 3 coins, Bitcoin (BTC), Ethereum(ETH), and Ripple (XRP) are declining.
BTC closed yesterday at $9,965 and, right at the moment of this article, it is trading at $10,091.
Even though the crypto is trading above its closing price, Bitcoin (BTC) is now registering a decrease of 4.93% in the last 24 hours.
Ethereum (ETH) is now trading at $770.50, also above its yesterday closing price which was $752.83.
However, the ETH is also showing a decrease of 2.16% in the last 24 hours.
Ripple (XRP) registered the biggest decline in the last couple of days, despite the recent good news.
At this moment, the XRP is trading at $0.873664 facing a decrease of 4.43% in the last 24 hours.
Yesterday, Ripple (XRP) closed at $0.871, with $0.051 lower than its closing price on March 6th.
Why is the cryptocurrencies market dropping?
First of all, yesterday, the Japanese regulators announced they will punish several cryptocurrencies exchanges accusing them of poor security measures.
Besides, the Japanese regulators have even announced that they will force some of the exchanges to close their businesses.
Even more, the Bank Of England announced that soon, there will be a crackdown on cryptocurrencies, including Bitcoin, Ethereum, Ripple, and al the other big ones.
Once again, the threatening news coming from banks and the governmental officials has negatively impacted on the Cryptocurrencies Market which is declining, as we speak.
Investors should wait to gain momentum as the Bitcoin, Ethereum, and Ripple are declining.
According to the experts, the crypto coins will recover and the profits will be bigger if money is invested at the right time when the assets are low.
Therefore, the fact that cryptocurrencies market is dropping is only a temporary event, according to the analysts.
The post Cryptocurrencies Market Is Dropping And Bitcoin, Ethereum, And Ripple Are Declining appeared first on News4C.