What has been a surprise today are the epic dumps by high cap crypto assets such as Ethereum, BCH, Litecoin, and EOS.
Altcoins Nearing Crypto Winter Lows
Total market capitalization has dumped by almost $10 billion over the past twelve hours or so. The plunge took crypto markets down to $186 billion, their lowest levels since early May bar the brief dip last month.
The calls for crypto winter and another final shakeout have intensified as markets run deep into the red today. They have been led by BTC which dropped almost 4% overnight in a fall to $6,850 before recovering slightly to trade just below $6,900.
Bitcoin has been there before but the altcoins have been literally crushed to multi-month lows.
Ethereum is in a bad shape with a 7% plunge below $130 according to Tradingview.com. The slide has sent the world’s second-largest crypto-asset back to support levels from March, nine months ago.
Further losses could result in ETH revisiting crypto winter prices below $120. It is hard to believe that anyone would…