The morning of August 1st, saw the bear market continue its move as major virtual coins experienced losses. The flagship virtual coin Bitcoin saw a slide back down to the $7,545 price level, bringing other currencies with it.
While there was hope that the crypto market had rallied out of the bear cycle over the past two months, this slump may have proven that is not the case. Bitcoin (BTC) has seen a sharp decline over the past 24-hours, dropping 8%, from $8,100 down past $7,500 for a moment.
Bitcoin Cash (BCH) was among the coins to see a significant decline, with a drop of 6%, finding itself around $750 price level. Ethereum experienced a decline of 7% as it traded around $420 price level. EOS has dropped by 15% by Wednesday morning being priced around $7.25. Ripple has experienced further yearly lows with a downslide of 3% or a trading value of $0.43. However, Ripple may have some good news on the horizon, with former US President Bill Clinton addressing a Ripple conference, which could see a boon towards the interest of the coin. Litecoin, Stellar, and Ethereum Classic have all suffered a 5% fall trading at $77, $0.27, and $15.90 levels respectively.
Other altcoins had experienced significant declines. NEO took a hit of 8% to fall below $30, a first in many weeks. Cardano also suffered a fall to trade at $0.14. IOTA declined 5% and Ontology and ICX both suffered 12% losses. Both VET and Tron experienced tremendous crashes of 20% trading at $0.02 and $0.033 respectively.