Bitcoin News

Crypto Market Crashes Third Time in Two Weeks. Is It a Correction?

  • Bitcoin and other major altcoins prices dropped for the third time in two weeks.
  • The whole market cap of cryptocurrencies dumped almost $300 billion.
  • The BTC price has dropped below $50,000 for the first time since March.

Bitcoin and other major altcoins prices dumped for the third time in two weeks, according to CoinMarketCap. Moreover, the whole market cap of cryptocurrencies dropped almost $300 billion from $2.078 billion to $1.773 billion in the last 24 hours.

Top Cryptocurrency Lose (Source: CoinMarketCap)

As shown above, the top 10 cryptocurrency are bearish with Ripple (XRP) taking the biggest hit in the top ten dropping 17.56%. Moreover, Uniswap (UNI) loses 14.77% today as the rest follow with losses between 12 and 9 percent.

Bitcoin Price Dropped Below $50K

The King of cryptocurrency Bitcoin price has dropped almost 10% in a day. According to CoinGecko, the BTC price is $49k, at the time of writing.

BTC/USDT Price Chart (Source: TradingView)

Moreover, the BTC price has dropped below $50,000 for the first time since March. However, on April 17, the BTC price crashed and dropped below $60k within an hour. 

More so, the market failed to stay at $55k and resulted in bearish action. Even more, the price reached below the psychological support level mark of $50k. In addition, Peter Schiff posted a tweet poking fun at BTC.

Furthermore, many traders are wondering whether this scenario is just a correction or not. However, one thing is for sure, the market will remain strong and stable despite the wild market swings of the network.

The News Crypto Staff

The News Crypto is a group of crypto journalists writing about the latest happenings in the crypto and blockchain industry.

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