The cryptocurrency market as a whole dropped by a further 10%, this translated on to other cryptocurrencies that saw a 20% decrease across the board, bringing the total market cap to just below $193,000,000. The last time we saw this was in November 2017, a month previous to the unprecedent Bull Run.
This figure on the Market Cap can be translated on to the Nouvive index spread between just Bitcoin and Ethereum. On it, we can see that the last leg of support is the level in Green just below.
If Bitcoin drops further below that, we will see a real problem, as Bitcoin will torrent downwards to $4400 and Ethereum to under $200.
Moreover, the Bitcoin dominance is at 54.1%, meaning a real majority over the Market.
All of this tie nicely into the latest Nouvive’s Op-Ed Piece illustrating that there have been manipulators in the Bitcoin Market driving the price down to the bottom level, perhaps as low as $2700.
The article goes into facts as to Bitmain, the largest producer of ACIS Mining resources owns 8% of Bitcoin Cash, in order to prop up the price of BCH, they have been liquidating their Bitcoins at a faster pace than normal.
Moreover, Bitmain is seeking to go public, as a result large institutions will be able to push or drive the price of BTC down, especially as Bitmain is reaching their 51% Hash rate. This means they control the speed and power, having majority say in consensus.
This will be released first at 5pm GMT time on Nouvive before being spread globally.
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