The cryptocurrency market is currently showing red almost across the board. Here are the latest movements:
Ethereum (ETH) has fallen by more than 4% over the past day to US$404.61. This represents a fall of more than two thirds since the start of the year. Its market capitalisation now stands at US$40.9 billion. It is a long way behind Bitcoin in terms of total market capitalisation.
Bitcoin (BTC) has dropped by 4.05% during the past 24 hours to US$7,363.63. It has also lost almost two thirds of its value since December last year. Its market capitalisation is currently US$126 billion for now.
Ripple (XRP) has declined by 0.6% during the past day to US$0.44. It has fallen significantly since its all-time high of US$3.78 at the start of the year. Its market capitalisation is US$17.3 billion today as it stands.
Bitcoin Cash (BCH) has fallen by 6.5% over the past 24 hours to US$713.30. It has declined by more than 75% since its high in December 2017. Its market capitalisation now represents US$12.32 billion.
EOS (EOS) has gone backwards by 2.71% during the past 24 hours to US$7.00. Its market capitalisation has reached US$6.34 billion.
Also, during the past day: Litecoin (LTC) is down 3.33%, Stellar (XLM) is down 8.73%, Cardano (ADA) is down 9.14%, TRON (TRX) is down 7.83% and IOTA (MIOTA) is up nearly 5%.
Since the recent recovery the crypto market has begun to fall again. Unless there is a sudden huge interest from the general public in cryptocurrencies again like last Christmas I can't see most currencies reaching their previous highs.
I'd rather put my money into an exciting software business with long-term growth like Altium Limited (ASX: ALU) or Appen Ltd (ASX: APX).
