Today has seen another huge day of losses for Bitcoin and Cryptocurrency. We’ve seen Bitcoin drop a further 15% down to a low of $6500 earlier today, since then it has rebounded back to above $7000, however whether it can sustain these levels has yet to be seen. It’s not pretty out there and the markets don’t appear to show any sign of letting up.
The only upside for Bitcoin is that it does appear to be slowly regaining some of it’s lost market share within the Crypto space. Currently Bitcoin has 36% market dominance up 3% from it’s low a week ago.
As for the rest of the Cryptocurrency markets, well as you’d expect they’ve suffered some heavy losses right across the board.
You know Bitcoins current state is bad when the likes of long time Bitcoin maximalist Richard Heart has even shifted from bull to bear. If you missed the live stream last night with Ivan on Tech and Richard Heart it’s well worth watching. Although it’s sad to see Richard lose faith in Bitcoin, his reasons are legitimate and his words were heartfelt and humbling: