Tonight, August 5, bitcoin fell below $7000 to $6940 according to Coinmarketcap. Thus, for a week BTC lost $1730, or about 15%.
At this point the total capitalization of the cryptocurrency market fell to $250 billion, losing over a week of $50 billion.
Altcoins have shown similar results: some fall less, others more significantly. Ethereum has lost 13%, Ripple 5%, Bitcoin Cash and EOS — more than 15%.
At the moment there is a slight rebound: bitcoin back above $7000 to $7026, altcoins also restored.
Some analysts said that the growth in bitcoin at $8000 was only the beginning of his rise, and BTC had to aspire to new heights in the near future. However, we already wrote about the reasons why it’s likely to happen in the coming months.
It should be noted that today there is a very important for the whole crypto-currency market news — the world’s largest coffee chain Starbucks plans to accept bitcoin payments in the near future. The network has more than 20,000 retail outlets around the world, and if they all start to accept bitcoins — it will be a huge movement forward for the cryptocurrency market. If that happens, BTC may show good growth.