Some Altcoins Crash As Bitcoin Drops

The collapse in the crypto markets is still ongoing and unstoppable and the losses are increasing with each passing hour. Some altcoins are crashing as Bitcoin struggles to maintain its $30,000 support. Bitcoin Dominance (BTC.D) has increased by almost 5% today, indicating that these altcoins have lost much more value.

Bitcoin is currently trading at $29150. Yesterday, these hours had fallen below the $30,000 support, then reclaimed $30,000. Similarly, it is currently trading below $30,000. The increase in buyers around $29,000 prevents further declines. If buyers fail to maintain this level, there could be further declines.

While Bitcoin is falling, losses are increasing in some altcoins. When we examine the cryptocurrencies in the Top 100 by market cap, there are big losses in some altcoins.

Some of the cryptocurrencies that are in the top 100 according to Coinmarketcap data and have lost the most value today are listed in the picture above. Losses in some altcoins are deepening.

Bitcoin Dominance (BTC.D) has increased significantly today. Currently Bitcoin Dominance (BTC.D) is 43.62%, up about 5% from yesterday. The long green candle is quite eye-catching. This shows that some altcoins have lost significant confidence. If Bitcoin drops below $29,000 and the losses in the crypto market could increase even more.

If the selling pressure does not subside, Bitcoin may drop to $25,000, but if buyers increase, Bitcoin will move to reclaim the $30,000 support.

We are in a bear market right now and there are some important reasons that trigger the declines, the first of which is confidence. Trust is the most important factor that is hard earned but quickly lost. We are living an example of this very clearly.

There are also opportunities in a bear market, and if you have prepared for a bear market, you can seize the opportunities. It is unclear where the prices will go, but increasing my reliable and strong crypto assets will be a good investment for the future. I was looking for an opportunity to increase my power especially in Hive and LeoFinance and now might be a great time to accumulate #HIVE and #LEO by taking advantage of the current opportunities.

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