Today was a fairly good day for BTC, and a downright awful one for alt coins!
Coming back with a market update to my friends at the NERDAY community, and the news is fairly great for Bitcoin.
While BTC did take a few jabs and saw some wicks down to the 22800 price region, has remained rather steady and back above 23000.
On the other hand, the altcoin market today suffered a major sell-off and a mini "capitulate" event with some downright low prices.
The sell panic news come from the SEC involvement with RIPPLE labs, and triggered a massive coin sell off.
Unfortunately due to the low liquidity of many alt coins, some of them saw massive loses down to 30-40%!
Shown below here is a massive wick on the DEFI asset $SUSHI, which had a capitulation wick to over 100% of it's value!
XRP itself had the worst of the day, going down over 100% to nearly .20 from it's intraday high of .44.
@originate Developer & Market Analyst
👍 It was a huge sell off indeed!
Its good to see BTC stay strong at that price but not a good one for alt coins.
BTC doesn't seem to care about anything anymore, but alts have been suffering thanks to xrp. I still don't get how easily manipulable this market can be.
Posted Using LeoFinance Beta
Ripple is having massive judicial issues with, among others, the SEC in America. I'd stay away from that for a while. Or, if you're feeling confident/lucky, buying the massive dip right now could yield good gains.
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