The slide continues for the crypto market as the losses extended for another day. Coins experienced considerable losses beginning with the Bitcoin that saw losses of 4% to settle for the day below the $5000 mark. The selling pressure affected other coins in the market.
The drop sees losses of $20 billion from the market cap as losses continue to mount for the crypto coins. The losses push it below the $170 billion mark, falling as low as $167 billion.
The Slide Continues for the Bitcoin as Well
Investors of the Crypto market experience even more disappointments as the slide continues even more for the largest coin in the industry. The Bitcoin lost 4% as the coin fell below the $5000 mark. The mark settled below $5000 mark at $4970.
Other Coins Also Feeling Selling Pressure
In addition to the Bitcoin, key coins like Ethereum, EOS and Ripple’s XRP fell to lows for the week. The Ethereum saw losses of 8% which brought prices down to $163 while the EOS gave back recent gains from this week’s rally.
The XRP experienced the same thing as the Ripple fell all the way to $0.32.
The Litecoin was one of the hardest hit by the downtrend when it fell 9% for the day below the $77 mark in recent days. The Bitcoin SV also suffered heavy losses as it went down at the same rate as the LiteCoin when it fell to the $70 level after trading.
Brexit Delay Connection
Some analyst believe that there may be a connection between the strong market and the changes that come with the Brexit. The Brexit was delayed for six months which may have pushed investors to seek the crypto as a safe haven from the uncertainty of the British pound and the Euro. However, when news came out the past few days that both the Pound and the Euro are safe, the buyers of the Crypto fell back to familiar investments.