Looking at the bigger picture the entire market capacity for all crypto currencies on the first of February was around $510 billion. At the end of the month it has fallen by almost 9% to $465 billion. The big slump of February 6 created the lowest point crypto market capacity has been since November 26 when it fell below $280 billion.
The need for cryptocurrencies regulations is still a prevalent topic in the opinions of the Western world authorities. In February we heard calls from French and German finance ministers and their US counterpart for discussing this subject during the upcoming G20 summit in March. This view was also supported by the IMF managing director.
Bitcoin, has had a very flat month starting out at $10,300 on the first and ending the month around the same level. The lowest point, again on February 6, was a dip to just over $6,100.
Bitcoin Cash fell 8.32% and finished the month at $1,231.99.
Ethereum has lost ground in February starting the month trading at around $1,140 and shedding 22% to $890. ETH has recovered from the big dip when it dropped below $600 for the first time since December 12 but could not maintain momentum up to its price at the beginning of the month.
Litecoin has enjoyed a very productive month beginning at around $150 and jumping over 20% to end closer to $221. The Litecoin Cash fork and launch of LitePay has enticed investors back into LTC after a long period of decline following founder Charlie Lee’s big selloff.
Ripple has also lost out this month beginning at around the $1.10 level and falling back to $0.95 at the month’s end. The 14% slide is a surprise since a lot of new partnerships have been announced by the San Francisco based blockchain company but they have not influenced price action in a positive way.