Bitcoin Dips Below $5,000 as Crypto Market Trend Slightly Reverses to Red

Thursday, April 4 - following its first major bullish move in 2019, the crypto markets reversed to see red today, with Bitcoin having dipped below the $5,000 threshold.

Out of the 20 top coins by market cap, only two altcoins are seeing some growth over the day.

Having hit a multi-month high of $5,303 earlier on the day, Bitcoin is struggling to hold the $5,000 support, having dropped below the mark five times to date.

Bitcoin's dominance on the market has slightly increased, accounting for 51% of the market at press time, with a market cap of about $800 billion.

Ethereum, the second-top cryptocurrency by market cap, is down 6.3%, trading at $161 at press time.

Bitcoin Cash, which skyrocketed over 50% yesterday, is down 5% over the past 25 hours.

The coin is seeing a massive growth of almost 68% over the past 7 days, which is the biggest increase among top 20 coins by market cap.

Total market cap slipped to $172 billion after hitting $187 billion yesterday.

Following a crypto rally on April 2, Brian Kelly, the founder and CEO of digital currency investment firm BKCM, predicted that the next Bitcoin target will be $6,000.

Also on April 2, Bitcoin analyst Tone Vays said that the crypto market surge may have no specific catalyst, and that lower prices could still be in the cards.