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Crypto Carnage: Ethereum Slips to $2,900 While Bitcoin Plunges Below $40,000

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Wed, 05/19/2021 - 04:46
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Alex Dovbnya
Crypto markets have turned into a horror movie
Crypto Carnage: Ethereum Slips to $2,900 While Bitcoin Plunges Below $40,000
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The cryptocurrency market remains in "carnage mode," turning into a long horror movie.   

Bitcoin, the leading cryptocurrency, has now slipped below the make-it-or-break-it $40,000 level for the first time since Feb. 8, currently trading at $39,576 on the Bitstamp exchange.   

The implosion of the flagship coin has expectedly roiled the rest of the market. Ethereum, the second-largest cryptocurrency, is currently down over 12 percent, slipping to $2,941, its lowest level since early May. 

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Peter Brandt Calling the Top as Bitcoin Plunges to $40K. Will It See $16K?

The total cryptocurrency market cap is now at $1.7 trillion after peaking at $2.5 trillion on May 12. 

Crypto market cap
Image by tradingview.com
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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.