The price of the Bitcoin sinks, but the Ripple price and that of the other altcoins also do the same
He ran to sell Bitcoins. This is the salient figure that emerged yesterday at the end of what will go down in history as the black Sunday of cryptocurrencies. The lack of trust among investors who have seen their hopes of ascent neutralized in recent weeks is at a very high level, so much so that there is now open talk about the collapse of Bitcoin. The same speech made for the BTC also applies to all other cryptocurrencies. We, therefore, speak of the collapse of Ripple, the collapse of Cardano, of Ethereum, of Litecoin and so on. The data provided by CoinMarketCap in real time shows a very weighty picture. As we are writing today on Monday 5 February, the BTC quotation is down 11% while the Ripple price is down 14%. Yesterday, practically none was saved from the black Sunday of the cryptocurrencies and the same goes for today.
To be at the center of strong sales are not only the best-known Altcoin but also the less known ones such as Stellar Lumens. In such a situation, to hear of a BTC quotation destined to rise to 50,000 dollars is, objectively, a forcing because the whole world of cryptocurrencies appears besieged by a very strong uncertainty. This situation does not spare anybody and concerns the same Ripple that, until a few weeks ago, was seen as the ablest altcoin to undermine the primacy of Bitcoin.
The picture today has completely changed due to a whole series of incidents and negative news concerning the world of cryptocurrencies. The new regulations, the very harsh statements that have repeatedly come from the representatives of many governments and, lastly, attacks by hackers and fraud by the exchange have led to a strong depreciation of the crypts. For what concerns, specifically the collapse of the Bitcoin today among the causes of the escape from the cryptocurrency is mentioned the possibility that the company Lloyds Bank may soon ban the purchases of crypto by credit card while it should be safeguarded the possibility to buy BTC with debit cards. The ban on the purchases of cryptocurrencies with credit cards, to which other giants like Bank of America, Citigroup and JP Morgan would be thinking, would be a further sign of the strong intolerance of traditional finance towards the crypts.
These “facts”, however, could not have been too much if not in the middle not to be put also technical movements, normal in view of the strong acceleration that all the crypto had scored in recent months. According to some analysts, therefore, there would be strong profit taking that is favored by a general context that is not really positive.
At this point, after the black Sunday of the cryptocurrency, to establish whether the price of Bitcoin, Ripple and all other altcoins can now rise has become very difficult. Being the negative short/medium term trend, even thinking about buying crypto ai (very low) current prices by focusing on a subsequent appreciation, it becomes very risky. It is true that shopping at these prices and with these quotes is convenient but we must also consider the possibility that the depreciation, after the blood Sunday, can continue today and maybe even in the coming days. This situation could be useful for those who prefer to invest on the BTC listing, on the XRP listing and on the price trend of all the other crypts through CFD trading therefore not buying directly crypto.