Altcoins Tumble Amid Speculation of Prolonged Crypto Winter

Some of the top 25 cryptocurrencies, ranked according to their market capitalization, started the week on a low and are down by more than 3% according to CoinMarketCap. Well-known cryptocurrencies such as BNB, XRP, AVAX, DOT, and MATIC are some of the cryptocurrencies with the biggest fall in prices today. These cryptocurrencies are currently ranked at 4th, 6th, 10th, 13th, and 16th respectively.

Other cryptocurrencies that have experienced a fairly large downfall in price within the last 24 hours include ATOM at 4.1% down and LINK at 4.4% down, ranked 21st and 22nd respectively.

Following the retracement from the all-time highs set in the cryptocurrency markets recently, the majority of cryptocurrency prices continue to fall today. This continuation in the fall of cryptocurrency prices has led to speculation around whether or not the cryptocurrency space is headed for a cryptocurrency winter.

A cryptocurrency winter is a period in the cryptocurrency space when trading activity in the cryptocurrency market is flat. This period most often follows after the market retraces from a surge in prices. During this time, the volatility in the market also decreases as there are fewer day traders and investors trading every day.

The verdict is still out as to whether or not the cryptocurrency market is headed back into a cryptocurrency winter or if the market is just pulling back after soaring to new heights in the last year. As things stand, the entire cryptocurrency market capitalization is down by approximately 1.5% in the last 24 hours and is now at $1.8 trillion.