Friday the 13th: Crypto Markets Red as Bitcoin Price Slips Below $10.3K

Published at: Sept. 13, 2019

Friday, Sept. 13 — crypto markets have continued to report mixed signals, with Bitcoin failing to hold $10,300 support on the day.

The majority of the top 20 coins by market cap are seeing red this Friday the 13th, with Tezos’ (XTZ) losses reaching nearly 2.3% at press time. However, Dash (DASH) is seeing a far larger growth on the day, up nearly 7% over the past 24 hours at press time, according to Coin360.

Market visualization | Source: Coin360

After surging to as high as $10,423 earlier today, Bitcoin has retreated to trade below $10,300 to date. The major cryptocurrency is down around 0.5% and is trading at 

$10,244 at press time, according to Coin360. Over the past 7 days, Bitcoin is down nearly 3.5%, from above $10,800.

Bitcoin 24-hour price chart | Source: Coin360

Ether (ETH), the second cryptocurrency by market cap and the top altcoin, is down around 0.7% to trade at $179 at press time, while still holding almost 3% over a 7-day period.

Ether 7-day price chart | Source: Coin360

Ripple (XRP), the third top cryptocurrency by market cap, is one of the few top-20 coins in the green today, up by about 0.5% over the past 24 hours at press time. The altcoin is trading at $0.25, still down around 0.2% over the past 7 days.

Ripple 7-day price chart | Source: Coin360

After surging up to $266 billion earlier in the day, total market capitalization dropped to $262 billion at press time, with average daily trading volume also seeing a slight decline from almost $49 billion to $46 billion at press time.

Bitcoin fundamentals remain bullish

While crypto markets have continued to trade sideways, a number of fundamental Bitcoin indicators have been growing stronger, as tweeted by Anthony Pompliano, founder of crypto investment firm Morgan Creek Digital Assets. As such, Bitcoin’s hashrate has continued to surge after breaking previous records throughout summer 2019, recording another high of 88.7 TH/s on Sept. 12, according to BitInfoCharts data.

Other fundamentals such as the share of Segregated Witness transactions and Bitcoin’s dominance on crypto markets have been holding bullish indicators, while Bitcoin average transaction fee has seen another drop in September.

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