Bitcoin and all altcoins are in a free fall this Friday, as investors started panic selling with no reason after 00:00 UTC. At the time of writing, Bitcoin has lost nearly 25% in the last 24h, and all other cryptocurrencies are losing their value at the same or worse rate.
The total capitalization of cryptocurrencies fell to $485 Billion, way down from the ATH of $600 Billion just a couple days before.
Here's the coinmarketcap chart that shows the bearish trajectory of Bitcoin in the last 24 hours:
At writing time, Bitcoin seems to hold just above $13,000, although it has reached down $12,961 earlier.
The rest of the top-10 cryptocurrencies are going down even more, as the table below shows:
Ethereum price has lost 26%. It is now traded at $632 on Coinbase - it had reached an all time high $871 on December 19:
Bitcoin Cash price is down -36%, reaching as low as $2,143 although it made a slight coming up since:
Essentially, BCH has fallen to pre-pumping levels as the 7d chart shows:
Litecoin lost 26%
Dash price is no exception: -33%
Despite the recent positive news about Bosch collaboration, IOTA price also fell 39%.
Bitcoin community figureheads suggest investors to be calm and HODL as always. After all, despite the deep dive, most cryptocurrencies remain way up than their value just a week ago (see the table above).
Others prefer to look at the greater picture, reminding people that bitcoin has had a phenomenal year. Despite today's dip, bitcoin is still up 1300% since the start of the year:
This market correction is a sad thing but it is something absolutely understable if not expected since all cryptos have been rallying for the whole past 12 months.
Nobody knows if this dip is a signal that Bitcoin and cryptocurrencies were a bubble that is about to pop. As always remember: Do your math, never invest more than you can afford to loose.