The entire crypto market has collapsed in the past 24 hours

The entire crypto market is collapsing, with the prices of all major digital assets falling dramatically in the past 24 hours. This brutal and unprecedented fall follows a massive sale in the market, which has taken place in the past two weeks.

The market has experienced a lot of fear (FUD) in recent weeks, following the spread of the coronavirus. The situation worsened after US President Donald Trump's March 11 announcement to ban flights from Europe to the United States. The reaction that followed caused panic and increased pressure on sales, which lowered prices.

Indeed, remember that the social, economic and political environment of individuals acts on what is called the market psychology.

Impressive fall for the three major assets

The three main cryptocurrencies, bitcoin, Ethereum and XRP, see their prices drop considerably. Bitcoin, Ethereum and XRP have lost 23.3%, 33.3% and 25.2% respectively in the past 24 hours.

Earlier in the day, the bitcoin had a lightning crash. The giant dropped more than $ 1,000 in an hour, from $ 7,346 to $ 5,897.10 at the time of writing.

For its part, Ethereum then lost a quarter of its value (25.2%) in the same hour after dropping from $ 169 to $ 130.90 in a few minutes.

The XRP, meanwhile, fell 18% in the same hour, the token price having gone from $ 0.188 to now $ 0.156.

And as for other digital assets

Most of the top 100 cryptos are also in full decline; the whole market seems to be suffering huge losses.

Only the stablecoins show some signs of stability. The most popular like the Tether, the Paxos Standard and the Binance Dollar suffer much less losses, some remaining with positive gains.

Bitcoin Cash (BCH), Bitcoin SV (BSV), Litecoin (LTC) who hold positions five, six and seven, have lost 35.2%, 40.6% and 33.9% of their value respectively in the past 24 hours.

EOS, Binance Coin (BNB), and Tezos who hold positions eight, nine and ten lost 29.6%, 29.5%, and 37.9%.

Among the ten largest digital assets, only the stablecoin Tether (USDT), did not fall, having gained 1.05% over the same period of time. However, it is currently losing momentum, with markers now red and a loss of 0.8% over the last hour.

A situation that has yet to evolve

The situation could change further in the coming hours. The crypto market is known for its nature volatile. The exact cause of the flash crash remains to be determined, but crypto investors should be wary of growing market panic that doesn't seem to want to run out of steam. The investors enlightened will know that we should not give in to this general panic, in order to properly place his pawns, and make the best profits.