Scattered Gains Bring Respite after Midweek Crash, But Many Alts Continue to See Losses
Crypto markets have slightly stabilized today, although many major coins continue to shed value.
Market visualization from Coin360
Bitcoin (BTC) is trading at around $6,430 at press time, down just under one percent on the day, according to Cointelegraph’s Bitcoin Price Index.
Despite a bullish start to September, Bitcoin’s price decline set in this Wednesday, September 5. Since then, the leading cryptocurrency has spiralled downwards from a high of $7,391 to over $1,000 less at its intraday low today at $6,354.
The coin is now a stark 16 percent down on its weekly chart. On the month, Bitcoin nonetheless remains up by around 7.3 percent.
Bitcoin’s 7-day price chart. Source: Cointelegraph's Bitcoin Price Index
Ethereum (ETH) has tumbled to around $216 at press time, losing just over 3 percent on the day. As with Bitcoin, Ethereum started September strong, briefly brushing the $300 price point September 1 before this week’s price plummet.
On its weekly chart, Ethereum is down just over 23 percent, with monthly losses around 46 percent.
Ethereum’s 7-day price chart. Source: Cointelegraph's Ethereum Price Index
Among the other top ten coins on CoinMarketCap, only three are in the green, though losses are capped below 3 perc