Crypto update: Bitcoin (BTC), Ripple (XRP), and NEO (NEO) smashed

Unfortunately for cryptocurrency traders the crypto market has taken an unwanted turn overnight and declines are being seen across the board.

This has reduced the entire market value to US$334.8 billion according to Coin Market Cap.

Here is the state of play on Thursday morning:

The bitcoin (BTC) price has tumbled 9% over the last 24 hours to US$8,329.31 per coin. This has reduced the market capitalisation of the world’s largest cryptocurrency to US$140.9 billion. Traders appear to have been rattled by reports that Allianz Global Investors have stated that it is a matter of when, not if, the bubble will burst. According to Bloomberg, the investment arm of Europe’s biggest insurer went on to say that the cryptocurrency is worthless, even if blockchain technology could bring significant benefits to investors. In addition to this, search engine giant Google has announced that it will ban crypto advertising.

The ethereum (ETH) price has fallen almost 10% since this time yesterday to US$618.67 per token, leaving it with a market capitalisation of US$60.7 billion.

The Ripple (XRP) price has lost over 9% of its value during the last 24 hours and is down to 71 U.S. cents. The popular altcoin now has a market capitalisation of US$27.8 billion. Ripple has come under pressure recently for a number of factors, one of which relates to a court battle with R3 Holdco over ownership of 5 billion XRP.

The Bitcoin Cash (BCH) price is off 10% during the last 24 hours to US$960.15. The bitcoin spin-off now has a market capitalisation of US$16.3 billion.

The Litecoin (LTC) price has been the least worst performer during the period with a decline of 6.5% to US$163.71 per coin. This decline leaves the popular altcoin with a market capitalisation of US$9.1 billion.

Outside the top five there have been heavy declines for Cardano (ADA), Stellar Lumens (XLM), and NEO (NEO). The latter crypto coin is down almost 14% since this time yesterday.

With sentiment now well and truly negative, I think traders would be better off looking at these investment options until sentiment improves. If it does...

The Disruptors: 3 Revolutionary Aussie Companies to Back for 2018

We’re living in one of the most exciting times in investing history. Innovation and a booming culture of entrepreneurship are constantly creating new companies with the potential to make forward-thinking investors very rich. Now more than ever, one small, smart investment could make a huge difference to your wealth.

That’s why at The Motley Fool we’ve been scrutinizing the ASX to uncover the kinds of companies that we believe could turn into the next Cochlear or REA Group.

We’ve found three exciting companies that we believe re poised to perform in the new year. Click here to uncover these ideas!

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…


The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!