Bitcoin Price Struggles to Recover After Slump Earlier Today

After spiking downward today, the Bitcoin price has sunk below $10,000 and is struggling to recover.

Wednesday, Aug. 28 — Top cryptocurrencies Bitcoin (BTC), Ether (ETH) and XRP are in the red following a sudden price crash at 5:45 p.m. UTC. The market as a whole is also red across the board.

Market visualization. Source: Coin360

The Bitcoin price is trading at $9,691 at press time, marking a 4.42% price decrease on the day. BTC, ETH and XRP all sharply dropped in price from 5:45 p.m. to 6:20 p.m. UTC today — just over 35 minutes’ time. Bitcoin dropped by approximately 6% in this period, falling from over $10,265 to $9,630. 

Bitcoin 7-day price chart. Source: Coin360

At press time, the top altcoin Ether is trading over $173 and is down by 6.73% on the day. ETH fell by over 9.6% in today’s price crash, from over $186 to under $168. Just yesterday, the blockchain-based browser Brave announced that it is developing a crypto wallet that will support ETH, Ethereum-based tokens and collectibles, as well as decentralized applications or DApps.

Ether 7-day price chart. Source: Coin360

XRP, the second-largest altcoin by market cap, is trading at $0.254 and has decreased by 5.27% on the day as of publishing time. As previously reported by Cointelegraph, an Australian woman has pled guilty to stealing $450,000 in XRP in 2018. She will receive a special hearing in October for factual disputes and sentencing, which potentially involves jail time.

XRP 7-day price chart. Source: Coin360

The top 20 cryptocurrencies are slumping at press time. In particular, Tron (TRON), Algorand (ALGO) and Binance Coin (BNB) are down by 10.93%, 15.79% and %11.30, respectively. The total market cap of the top 100 cryptocurrencies is over $253 billion at press time, according to data provided by Coin360.

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If you have other interesting news about this topic or other cryptocurrency news please let us know. Don’t forget to view our useful bitcoin videos collection to learn more about Bitcoin and Blockchain. Investing in Cryptocurrencies can be very profitable but always make sure you’re keeping your coins safe. You can use the tutorial that will teach you how to make a bitcoin paper wallet that’s the simplest way to keep your Bitcoins but the safest way is by using a hardware wallet.

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Passionate about Crypto-Currencies and Bitcoin enthusiast. Oliver is an Editor on Crypto Cool News.

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