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Ethereum (ETH) drops more than 9%

The cryptocurrency markets have continued to fall over the past 24 hours as traders become bearish again. You never know what the cryptocurrency market is going to do next.

According to CoinMarketCap:

Etheruem (ETH) has fallen by more than 9% over the past day to US$532.34. This represents a fall of over 50% since the start of the year. Its market capitalisation has fallen to US$53.1 billion. It is not any closer to taking the number one crown from Bitcoin.

Bitcoin (BTC) has dropped by 1.55% during the past 24 hours to US$7,209.24. It’s getting closer to losing two thirds of its value since December last year. Its market capitalisation has declined to US$123 billion.

Ripple (XRP) is down by 3.52% during the past day to US$0.58. It has fallen significantly since its all-time high of US$3.78 at the start of the year. Its market capitalisation has now dropped to US$22.9 billion.

Bitcoin Cash (BCH) has fallen by 5.5% over the past 24 hours to US$937.58. It has declined by more than 75% since its high in December 2017. Its market capitalisation now represents US$16.1 billion.

EOS (EOS) has gone down by 2.05% during the past 24 hours to US$12.06. It has nearly halved in value since its high a month ago. Its market capitalisation has reached US$10.67 billion.

Also, during the past day: Litecoin (LTC) is down 2.95%, Stellar (XLM) is down 5.23%, Cardano (ADA) is down 6.53%, TRON (TRX) is down 8.63% and IOTA (MIOTA) is down 2.15%.

This sea of red isn’t very encouraging. Cryptocurrencies may yet change the world, but I’d bet on Blockchain having a bigger impact on the world we know.

For now, I’d much rather stick to shares – which have a proven history of amazing long-term returns.

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Motley Fool contributor Tristan Harrison 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.

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