From a local peak on July 12, Bitcoin tanked from a high of $11,950 to a low of $9,857. Meanwhile, most altcoins experienced even larger double-digit losses. Some of the biggest losers include Ethereum, Bitcoin Cash, Litecoin, and Bitcoin SV—dropping 16.8 to 21.6 percent while XRP held strong relative to BTC.
Following President Donald Trump’s negative tweet about Bitcoin and cryptocurrency, the markets went on to rally and peak 21 hours later at a high of $11,950. Since then, the markets have gone into a downtrend—even monetarily going below $10,000 support. From its peak to the current price of $10,075, BTC lost 15.7 percent.