ETH, XRP, BCH, LTC and Other Top Altcoins Capitulate on the Heels of BTC Crash

Wed, 08/14/2019 - 18:04

The brutal market sell-off has completely diminished the hopes of those who still believed in an upcoming alt season

Cover image via www.123rf.com

The cryptocurrency market endured a severe crash on Aug. 14. Ethereum, XRP, and Litecoin posted double-digit drops. Ripple’s XRP was hit the hardest — the coin steeply fell to the $0.26 level after a major sell-off.

Ripple's XRP Price Tanks by More Than 60 Percent on Beaxy Exchange. Here’s Why

Meanwhile, Bitcoin turned out to be the safest bet within the CoinMarketCap top 10 given that it only dipped 6 percent following yesterday’s crash. The crypto king is changing hands above the psychologically important level of $10,000 at press time.

image by coinmarketcap.com

According to cryptocurrency trader Josh Rager, BTC is currently inching closer to its previous lows. Thus, this feast might soon end for the bears.

As reported by U.Today, Goldman Sachs recently forecasted that BTC could hit $13,971 in the short-term, which could also revive the broader cryptocurrency market.

About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.