SIGNIFICANT PULL BACK. HEALTHY?
The market has pulled back heavily, shedding nearly $20B in the last 24 hours to just over $260B (31st May 6am GMT).
Most coins are showing significant losses with Bitcoin (BTC) down nearly 5% at $8260, Ethereum (ETH) dropping a whopping 10% + now at $251 and EOS is down over 9%, despite Coinbase annoucing its surprise listing yesterday.
The top ten looks pretty rough this morning and a lot of people will be waking up to a grim view of thier blockfolios , but many see this market pullback as 'healthy' stating that it was required to consolidate before the next run up. Some though think the whole recent rally was engineered by a small pool of whales manipulating the price (see article below)
(See market snapshot below for up to the minute key metrics)
In the news today:
- How far will altcoins correct? Dash, Cosmos, NEM, Bitcoin Diamond, Digitbyte technical analysis (article below)
- Only 3 Months Exist Where Buying Bitcoin Resulted in Losses (article below)
- Coinbase Makes Surprise EOS Listing (article below)
- Project Libra: Everything We Know About Facebook’s Cryptocurrency (article below)
- Whales Could Pull Bitcoin Back To $20,000, Says Asset Manager (article below)
Please note: This is not in any way financial advice and you should always research your own information from a diverse and valued source of resources. The author does hold cryptocurrencies and may hold some discussed , but aims to show an unbioased news opinion.
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