This is what some enthusiasts has mimicked to be Bitcoin Black Friday for the cryptocurrency trading community.
The cryptocurrency markets continued on a downward slide today. Bitcoin (BTC) was dropping nearly 8% to settle at $7000, down from around $7,800 yesterday. Is that the Bitcoin Black Friday?
The global crypto market cap dropped $5.6 billion in 24 hours. Barring The only stablecoin coin maintaining an uptrend is Tezos, Tether (USDT) and USD Coin (USDC) was also down. Tezos continues to post gains of 3.9%, settling at $1.25.
Among the top altcoins, Ethereum, Bitcoin Cash and EOS have lost 10% since yesterday, falling to $156, $215 and $2.68 respectively. Binance Coin (BNB) has dropped by 5.4% to $15.5, while Stellar (XLM) has dropped by 5.21% to $0.0592.
Speculation points around China’s recent crack down on cryptocurrency companies—draining out gains that followed an endorsement of blockchain technology by the country’s President Xi Jinping.