Bitcoin price keeps falling and just dipped below $6,000

Bitcoin price keeps falling and just dipped below $6,000

Bitcoin price falls below £5,000 and ethereum plummets as crypto markets 'hit panic mode'

Bitcoin Cash (CURRENCY:BCH) traded down 4.1% against the U.S. dollar during the one day period ending at 19:00 PM Eastern on August 7th. Also, with loads and loads of ICOs being run on the ETH network and with many of them looking to unwind their positions worth millions of dollars, that has only served to put pressure on the prices even more over the last few weeks. At its lowest point of this year, the valuation of the crypto market reached $194 billion, led by the poor performance of Ethereum, Ripple, and Bitcoin Cash.

Part of the reason for the massive decline in token pricing is increasing Bitcoin dominance, which is pulling investments from altcoins with unproven or presently unutilized products.

Bitcoin went to a low of $5,922 earlier today.

XRP (XRP) traded 1.7% lower against the dollar and now trades at $0.28 or 0.00004505 BTC.

Namecoin (NMC) traded down 11.1% against the dollar and now trades at $2.30 or 0.00037009 BTC.

Tether (USDT) traded 0.4% lower against the dollar and now trades at $1.00 or 0.00015791 BTC.

Stellar (XLM) traded 3.1% higher against the dollar and now trades at $0.22 or 0.00003479 BTC.

TRON (TRX) traded up 10.3% against the dollar and now trades at $0.0195 or 0.00000308 BTC.

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CHIPS (CHIPS) traded 33.1% lower against the dollar and now trades at $0.0813 or 0.00001311 BTC.

VeChain (VET) traded up 0.8% against the dollar and now trades at $0.0080 or 0.00000127 BTC.

VeChain (VET) traded 12.6% higher against the dollar and now trades at $0.0078 or 0.00000124 BTC.

Creativecoin (CREA) traded up 0.9% against the dollar and now trades at $0.0474 or 0.00000756 BTC.

BCH is a proof-of-work (PoW) coin that uses the SHA-256 hashing algorithm. The Reddit community for Marscoin is /r/marscoin and the currency's Github account can be viewed here.

A version of this article was first published by our sister publication, The Bitcoin Mag.

For the past 8 months, the cryptocurrency market in general and the Bitcoin market in particular have experienced similar trends and price movements in similar ranges. Investors seeking to acquire First Bitcoin Capital should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Changelly, Gemini or GDAX.

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