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Cryptocurrency news for today, September 5: Bitcoin is cheaper than $ 10,000 again, altcoins have gone downhill
CONTENT

  • Bitcoin falls below $ 10,000 again

  • DeFi market is feverish again, investors suspect a scam

  • Coins may still rise, but there will be no repeat of 2017

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Bitcoin is testing the area below $ 10,000 for the second time in a day. During the day, the first cryptocurrency fell by more than 5% and at the time of this writing is trading at $ 9,920.

Cryptocurrency news for today ...

Altcoins are doing little better, and some are even worse. All twenty leaders are in deep minus, with the heaviest losses incurred by Polkadot (-26.8%), Chainlink (-18%) and Ethereum (-17%), who recently settled in the top. Bitcoin SV and UNUS SED LEO lost only 2% and this is a great achievement for the present.

Source: CoinMarketCap

Gastronomic-named tokens, dog coins and other wild fantasies continue to migrate from developer’s brain-teasing imaginations to the real world. The creator of TRON, Justin Sun, who announced his “sunny” meme-token SUN, and even the cryptocurrency exchange Binance, which recently launched a platform for mining liquidity.

Cryptocurrency news for today ...

Meanwhile, the market quickly goes into a state of panic, and the same DeFi industry is to blame. Until recently, it was considered the main locomotive of the bullish trend, and now it is pulling the entire market to the bottom. Infamous Fork In the cryptocurrency world, a fork is essentially a change in the blockchain protocol. Since cryptocurrencies operate on decentralized networks, all parties … More Uniswap, a project called Sushiswap, has done something akin to an exit scam. The project developer has sold his tokens for over $ 8 million. SUSHI token price collapses by 50%, pulling the rest of the DeFi segment with it.

Despite the massive decline, in the long term, Bitcoin and all major coins are still moving in a bullish trend, with many well-known investors advising not to panic and use the downturn as an opportunity to buy coins. Whether it is worth following this advice is up to everyone to decide. However, those hoping for a repeat of the 2017 hype should take into account some fundamental differences between the current situation and what it was three years earlier. Read more about this here.

Other key crypto industry events this week:

Cryptocurrencies are most popular in countries with dismal economies

What the future holds for the DeFi market: expert opinion

China changed the US dollar with the digital yuan

The media learned about the arrest of the office of the largest South Korean exchange Bithumb

Token As the use of cryptocurrencies grows, new types of tokens are emerging. They can represent value or something intangible like voices. Two … More Polkadot entered the top 5 cryptocurrencies, amid denomination

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Cryptocurrency news for today ...

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