The cryptocurrency market is taking a tumble again today, marking another crypto downturn for what has been a tough December. BTC has fallen another 11% in the last 24 hours. It had previously fallen 8% only one week ago today.

At the time of writing, the world’s largest coin is selling for $3,287 USD.

Cryptocurrency Downturn

Ripple (available on Binance) and Ethereum (available on Coinbase), the second and third largest cryptocurrencies by market value, have also declined in the last 24 hours. And the losses are great; XRP fell 10.16% and Ethereum (available on Coinbase) an even bigger 15.56% according to Coinmarketcap.com.

The market has been in the midst of a general bearish trend that began in November. It seems that the general feeling out there is a negative one and it doesn’t seem to be letting up anytime soon.

According to Zennon Kapron, director at financial technology consultancy KaproNASia:

“As the market is heavily retail driven, it’s very much at the mercy of group sentiment which causes huge swings. Without any positive drivers in the near future, this could continue well into 2019.”

The crypto industry has seen its entire market cap drop almost 86.92% from its highs in January. It has been a particularly tough year.

Cryptocurrency Downturn and Other News

Despite the figures, there has been news this week that could help to lift spirits and change sentiment, depending on how you look at it.

The SEC has announced that it has changed the rules so as to allow a longer decision period for a Bitcoin (available on Coinbase) ETF.