The cryptocurrency market continued its downward trend on March 28, 2018, with Bitcoin trading at around $7,954 and Ethereum at $446. The total market capitalization fell below $300 billion as bear market sentiment persisted across the digital asset sector.
Key Market Data
- Bitcoin: $7,954 (down 11.52% for 7 days)
- Ethereum: $446 (down 21.25% for 7 days)
- XRP: $0.578 (down 16.66% for 7 days)
- Total market cap: Below $300 billion
Technical Analysis
Technical indicators suggested a “sell the rallies” environment, with Ethereum testing support around the $450 level. Market analysts pointed to significant resistance levels that would need to be overcome for any meaningful recovery.
Why This Matters
The March 28, 2018 market snapshot reflects the challenges facing blockchain technology during this period of regulatory uncertainty and market correction. Despite the downturn, the underlying technology continued to develop with ongoing innovations in the blockchain space.
Disclaimer: This article is for informational purposes only.