Why Bitcoin, Ethereum, and Dogecoin Slumped Today
It's been a rather choppy day in the cryptocurrency world. The entire crypto market is down 3.9% over the past 24 hours, as of 3 p.m. ET, with Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and Dogecoin (CRYPTO: DOGE) leading the way lower. These three major tokens have declined 4.5%, 5.1%, and 7% over the same time frame, outpacing the losses of the overall market.
In the crypto world, these are three of the mostly closely watched cryptos, due to their importance to a wide range of investors. As the world's largest and second-largest digital assets, Bitcoin and Ethereum are viewed as the benchmarks for the sector. Most of the value being accrued to this space goes to these two tokens, which currently account for well more than half the value of the overall sector. For investors in Dogecoin, plenty can be gleaned from this meme token's price movements with respect to sentiment in this sector, particularly among speculators.
Let's dive into what's driving this price action today.
Source Fool.com
