Despite last week’s important event, the long-awaited merge of Ethereum, the cryptocurrency market has been experiencing some turbulent days. Many of the prominent digital assets have fallen in price, while the market itself has witnessed an outflow of $165 Million, Finbold confirms.
Between September 12 and September 19, the market collapsed under a crucial threshold of 1 trillion US dollars, trading at $1.068 billion at the beginning of the week, but $903 billion on September 19, as per Coinmarketcap data. The last time that the price fell so low was two months ago, on July 14.
At the time of writing, the biggest cryptocurrency, Bitcoin, is trading at $18,439, which marks an 8.07% decrease from yesterday and a 17.08% fall from the previous week, totaling its market worth at $354 billion.
Ethereum, the second largest digital asset, has also fallen down quite significantly, currently trading at $1,295, which represents a 10.99% fall in 24 hours and a noticeable decrease of 26.15% from last week.
As of now, the experts are cautious in their predictions of future developments, as many claim that cryptocurrencies have found their bottom and are only going to rise from now on, but there are also those who think we have not seen the worst of the bear market yet.