Libra Audit Really Affected Bitcoin Price Fall?

Libra vs Bitcoin

According to the movement of the last 24 hours, the BTC recorded a significant drop this Tuesday, July 16. With a retraction of more than 9%. This after having lived a couple of days with slight declines.

Although most of the comments in Marcus' audience were about Libra and Facebook's intentions, the price of bitcoin and altcoins has resented. Falling below $10,000 for the second time this month.

After Marcus' audience, the price plummeted more than USD 1,200, from USD 11,052 to just over USD 9,670 in a few hours.

Bitcoin has an exchange volume of USD 23,555,594,616. Binance, Huobi and CoinBene are its main markets, trading mainly against tether (USDT).

It must be said that, beyond the news emanating from the Facebook and Libra audience, there are no major causes that can help explain this widespread decline.

Bitcoin The Most Resilient

But Bitcoin's downfall has only set the trend for the day. The vast majority of cryptocurrencies in the market has also had a drop in price. Among the top ten cryptoassets by market capitalization the losses are significant.

Today litecoin (LTC) with a 14.95% drop is the crypto of the top 10 that has most reduced its price. It is followed by ether (ETH), with a 13.46% retraction and bitcoin cash (BCH), with an 11.27% reduction.

The total capitalization of the crypto market has fallen sharply. Going from USD 287,827,135,821 at the beginning of July 16 to USD 258,514,839,370. That is, a total of USD 29,312,296,451. This represents a drop of more than 10% in just 24 hours.

Weekly vs Monthly Movement

U.S. businessman and crypto advocate John McAfee has doubled his 2020 prediction of $1 million for Bitcoin (BTC).

Bitcoin is at the mid 10's and people worry. LMFAO!! Why do you pay attention to weekly fluctuations? Look at the past few months FFS! It's rising drastically. I'm still positive about my $1 mil BTC price by the end of 2020. Alt coins like MTC and Apollo will rise ten times more.