The Motley Fool

Crypto update: Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, and Litecoin sink to new lows

The cryptocurrency market continued its slide during overnight trade and there are declines being seen across the board.

This has led to the value of the entire market dropping almost 2.5% over the last 24 hours to US$236.3 billion according to Coin Market Cap.

This is actually an improvement as at one stage the market touched on a 2018 low of US$232.5 billion.

Here is the state of play on Saturday morning:

The Bitcoin (BTC) price has fallen 1.2% since this time yesterday to US$5,943.18 per coin, reducing the world’s largest cryptocurrency’s market capitalisation to just under US$101.8 billion. Bitcoin did find a supporter overnight, though. Renowned economist Mohamed El-Erian told CNBC that Bitcoin would be a buy if it fell below the US$5,000 mark. While there is still some way to go before it reaches this level, weak trader sentiment does make this a realistic possibility.

The Ethereum (ETH) price is down 3.6% over the last 24 hours to US$415.78 per token, reducing its market capitalisation to US$41.7 billion.

The Ripple (XRP) price has been the worst performing major coin and is off 4.2% during the last 24 hours to 43.5 U.S. cents. This leaves XRP with a reduced market capitalisation of just over US$17 billion.

The Bitcoin Cash (BCH) price has fallen 1.7% over the period to US$666.85 per token, reducing its market capitalisation to US$11.5 billion.

The EOS (EOS) price is down 2.9% since this time yesterday to US$7.39. This leaves the popular alt coin with a market capitalisation of US$6.6 billion.

The declines continued outside the top five as traders exited the market in their droves. In fact, only two coins in the top 25 were in positive territory over the last 24 hours.

Elsewhere, the Litecoin (LTC) price is down 4%, the Stellar (XLM) price is lower by 3.6%, the Cardano (ADA) price has dropped 2.7%, and IOTA (MIOTA) has fallen 0.8%. Only Tether (USDT) was pushing higher in the top ten with a paltry 0.1% gain.

You may know all about Bitcoin, but do you know about this trillion dollar investment opportunity.

7 of 8 People Are Clueless About This Trillion-Dollar Market

One of our investors has recently returned from a research trip to Silicon Valley... and has a warning for fellow investors:

Because he works for an organization dedicated to spreading great investing ideas, his video report is free today... so you can see it and decide for yourself.

Don't miss your chance click here to learn about this warning and how you might be able to profit!

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.

One ASX Stock For An Estimated $US22 Billion Marijuana Market

A little-known ASX company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.

And make no mistake – it is coming. To the tune of an estimated $US22 billion.

Cannabis legalisation is sweeping over North America, and full legalisation arrived in Canada in October 2018.

Here’s the best part: we think there’s one ASX stock that’s uniquely positioned to profit immensely from this explosive new industry… taking savvy investors along for what could be one heck of a ride.

AND, this is the first time The Motley Fool Australia has EVER put a BUY recommendation on a marijuana stock.

Simply click below to learn more on how you can profit from the coming cannabis boom.

Click here to find out more