Price analysis 6/17: BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, LEO, AVAX

Price analysis 6/17: BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, LEO, AVAX – Mail Bonus

A sharp drop in cryptocurrencies has brought the total market value of cryptocurrencies below $ 900 billion. According to CoinGoLive, 72 of the top 100 symbols have fallen by more than 90% from their all-time highs. In comparison, the top 10 currencies have performed better this autumn, falling by an average of 79% from their all-time highs.

Bitcoin (BTC) has fallen by more than 70% since its historic high, but bulls are having a hard time stopping the decline. Jurrien Timmer, head of Fidelity’s International Economics Division, pointed out that Bitcoin could be “cheaper than it looks” in terms of price-to-net ratio, which is similar to the price-to-earnings ratio used in the stock market to measure. shares.

Daily performance of the cryptocurrency market. Source: Coin 360

Billionaire Mark Cuban said in an interview with Fortune that projects without a valid business outlook will disappear as bear markets have a cleansing effect on the market. However, he added that innovation in the cryptocurrency sector is likely to continue during a downturn in the market.

Could Bitcoin and major altcoins maintain the desired level of support? Let’s look at the charts of the top 10 cryptocurrencies to find out.