arrow-up
Market Musings

CoinMarketCap Daily, July 8: BTC Plunges, Altcoins Fall Even Harder

By
Published on:
July 8, 2021

Plus, new figures suggest 21% of British crypto investors don't understand what they're doing.

CoinMarketCap Daily, July 8: BTC Plunges, Altcoins Fall Even Harder

Table of Contents

Today’s Top Crypto News Stories

But first — subscribe to our newsletter here.

Subscribe to the CoinMarketRecap podcast on Apple Podcasts and Spotify!

Fears Bitcoin May Head Back to $30,000 🥺

Bitcoin is struggling to get its momentum back. It has fallen by 6.14% over the past 24 hours to $32,133.18. Analysts say BTC is now likely to retest lower levels. A number of companies that invested in crypto earlier this year are also booking impairment charges. Meitu lost $17.3 million after Bitcoin's terrible quarter, but saw paper profits of $14.7 million on ETH. The latest.


Altcoins Suffer Outsized Losses 💔

If things are bad for BTC, they're worse for altcoins. ETH is down 9.51%, XRP by 7.39%, DOGE has fallen 9.72%, and Polkadot is nursing losses of 10.21%. In other developments, Coin Metrics has revealed that Ethereum fees have fallen to their lowest level since March 2020 — the month when a brutal flash crash occurred. Visa has also made a bullish announcement.


One in Five Investors Haven't Got a Clue 😲

New research suggests 21% of British crypto investors rate their knowledge of digital assets as "poor or non-existent." Oxford Risk did find that most are sensible when dipping their toe into BTC, with 81% starting small. The firm's head of behavioral finance said: "The concern is that too many people are buying blind without knowing what they’re doing." Read more.


Lost Your Keys? You Could Be on TV! 📺

A reality TV series has announced it wants to hear from people who have been frozen out of their crypto wallets. Unfortunate investors will be connected with cybersecurity experts who will aim to help them regain their funds. Those who take part must be prepared to lose access to their crypto fortunes forever. There have been several horror stories recently.


Author(s)

Connor Sephton

I cover the crazy world of crypto.

Join the thousands already learning crypto!

Join our free newsletter for daily crypto updates!

Email submitted!
Oops! Something went wrong while submitting the form.

Related Articles