20.09.2019

Bitcoin Price Struggles to Recover After Slump Earlier Today

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Wednesday, Aug. 28 — Top cryptocurrencies Bitcoin (BTC), Ether (ETH) and XRP are in the red following a sudden price crash at 5:45 p.m. UTC. The market as a whole is also red across the board.

The Bitcoin price is trading at $9,691 at press time, marking a 4.42% price decrease on the day. BTC, ETH and XRP all sharply dropped in price from 5:45 p.m. to 6:20 p.m. UTC today — just over 35 minutes’ time. Bitcoin dropped by approximately 6% in this period, falling from over $10,265 to $9,630.

At press time, the top altcoin Ether is trading over $173 and is down by 6.73% on the day. ETH fell by over 9.6% in today’s price crash, from over $186 to under $168. Just yesterday, the blockchain-based browser Brave announced that it is developing a crypto wallet that will support ETH, Ethereum-based tokens and collectibles, as well as decentralized applications or DApps.

XRP, the second-largest altcoin by market cap, is trading at $0.254 and has decreased by 5.27% on the day as of publishing time. As previously reported by Cointelegraph, an Australian woman has pled guilty to stealing $450,000 in XRP in 2018. She will receive a special hearing in October for factual disputes and sentencing, which potentially involves jail time.

The top 20 cryptocurrencies are slumping at press time. In particular, Tron (TRON), Algorand (ALGO) and Binance Coin (BNB) are down by 10.93%, 15.79% and %11.30, respectively. The total market cap of the top 100 cryptocurrencies is over $253 billion at press time, according to data provided by Coin360.

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