Ether, Litecoin, Dash & Neo Just Obliterated their 2018 Price Gains

Oct 31, 2018 at 10:58 // News
Author
Coin Idol
Altcoins obliterated their price gains

Alternative Cryptos (Altcoins) have started to feel the digital currency winter as big names begin falling below the last year-on-year price levels.

The Bitcoin (BTC) sell-off bewrayed Altcoins to their worst losses since Thursday, October 11 driving home the pessimistic case with Altcoins in the top 20 by market cap falling 3-10% and decomposing a 12-day consolidated time.

That led Dash (DASH), Ether (ETH), Litecoin (LTC), Neo (NEO) and Bitcoin Cash (BCH) to show the worst year-on-year accomplishments to date as per CoinMarketCap data.

DASH is currently exchanging hands at $152 - a $132 difference to the October 30, 2017, levels of $284, while BCH was exchanging hands at $472 on October 30, 2017, and is currently at $356 - a $117 difference.

ETH on October 30, 2017, was at $305, at press time it is trading at $230 - a $75 difference. LTC is down by $6.66 and NEO is down by $12.55.

A Turn for the Worse?

Things have totally changed since BTC first dropped below a strong signal back in March 2018, indicating big bearish conditions had taken hold as potential investors planned to quit altogether.

The 200-Daily Moving Average (DMA) has shown a total loss of major control for a second time when BTC tried its trend above $10,000 on March 12 this year.

BTC's dominance rate uniformly raised by 0.44% over the week, showing a movement from Altcoins instead of the anticipated November run-up.

So it appears the bears have hardened their grip on the Altcoin market perhaps feeding into a fresh year in lieu of facing a significant resurgence as some are hoping until they can break out again above their year-on-year goals.