Bitcoin, Ethereum, and Ripple start the month in the red

It has been a reasonably subdued start to the month for the crypto market and small declines are being seen across the board this morning.

This soft start has led to the entire value of the market falling by 1.3% since this time on Friday to US$221.35 billion according to Coin Market Cap.

Traders will no doubt be hopeful that things pick up in October after two consecutive months of declines for the market and the Bitcoin price. In August the Bitcoin price fell by 10% and then followed this up with a decline of approximately 6% last month.

The good news for traders is that many experts are predicting a break out to the upside for crypto coins after favourable technical analysis signals.

Time will tell if this happens, but in the meantime here is the state of play this morning compared to 24 hours ago:

The Bitcoin (BTC) price is down 0.2% to US$6,585.04 per coin. This decline reduces the world’s largest cryptocurrency’s market capitalisation to US$113.9 billion.

The Ethereum (ETH) price has fallen 1.2% to US$228.97 per token. This latest decline means that ETH has a reduced market capitalisation of US$23.4 billion.

The Ripple (XRP) price has dropped 0.1% lower over the period to 57.22 U.S. cents per token. This leaves XRP with a market capitalisation of US$22.8 billion.

The Bitcoin Cash (BCH) price has fallen 2.5% to US$525.75 per token. The Bitcoin spin off now has a market capitalisation of US$9.1 billion after this latest decline.

The EOS (EOS) price has sunk 3.5% lower to US$5.57, reducing the alt coin’s market capitalisation to US$5.05 billion.

Outside the top five things were reasonably mixed. The Stellar (XLM) price has risen 0.1%, Litecoin (LTC) is down 2%, Tether (USDT) is up 0.1%, Cardano (ADA) is down 1%, and Monero (XMR) has fallen 0.15%.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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