Sunday, Nov. 25: crypto markets have suffered another crash yesterday and continuing into today, with all top 20 cryptocurrencies by market cap deeply in the red, and Bitcoin (BTC) trading below $4,000.
crypto markets are seeing a massive decline of at least 10-15 percent. Stellar (XLM) has suffered the most, down over 20 percent, and trading at $0.14 at press time, according to CoinMarketCap.
Friday , Nov. 24, Bitcoin plunged below the $4,000 price point, breaking the threshold for the first time since September 2017. Today, the major cryptocurrency has dropped even further to as low as $3,585 before stabilizing at around $3,800.
As of press time, Bitcoin is trading at $3,835, down just under 10 percent over the past 24 hours.
The biggest cryptocurrency is down more than 32 percent over the past 7 days. Before facing the first massive sell-off this month on Nov. 14, Bitcoin was trading stably around $6,300, which is up about 40 percent from its current price.
Major cryptocurrency EOS (EOS) briefly overtook Bitcoin Cash (BCH) in terms of market capitalization, becoming the fourth largest coin and following third top altcoin Ethereum (ETH). Meanwhile, Bitcoin Cash is suffering some of the biggest losses, down around 19 percent over the day. Trading around $165, the cryptocurrency is down more than 56 percent over the past 7 days.
Total market capitalization of all cryptocurrencies dropped below $130 billion yesterday evening for the first time since mid-September 2017. At press time, total market cap is hovering just over $120 billion, daily trade volume accounts for around $19 billion. Bitcoin’s market share now accounts for 54.5 percent.
Muneeb Ali, CEO of decentralization-focused blockchain project Blockstack PBC, has recently tweeted that the industry is entering a “crypto winter,” urging that there is “no need to deny or downplay it.” The blockchain expert has predicted that crypto investments “will likely dry up,” causing shutdowns of projects in the industry. However, the current state of the market is “far from the end,” with the “next wave” expectedly bringing a “bigger market,” he said.
Earlier this week, U.S. Securities and Exchange (SEC) Commissioner Hester M. Peirce provided a pro-crypto statement, claiming that regulators “need to be willing to open the doors a little bit wider for innovation.” Speaking in an interview Nov. 20, Peirce declared that she “reject[s] the role of gatekeeper of innovation,” and argued that this role is “very different” from the genuine mission of developing “efficient markets,” as well as protecting investors.
As Cointelegraph reported today, former Goldman Sachs exec turned crypto exec Mike Novogratz stated that crypto markets will “start moving again next year.” The founder of crypto bank Galaxy Digital told reporters that a “flip” in prices would likely be instigated by major financial institutions entering the crypto space – giving the Intercontinental Exchange’s Bakkt and Fidelity’s plans to open crypto trading as examples.
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Still it's bad news for me.
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Why's that?
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I bought 200$ btc like 7 month ago now price is 50$ of my btc in coinmi wallet
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You cant worry about what happens in between. Its a long term investment. Only buy bitcoin with money you're just as willing to light on fire. The long term gains will be phenomenal. This is not bad news for you. Bitcoin dropping is great news for you because if you buy in now it will help you by dollar cost averaging. You want lower your dollar buying average of bitcoin to be as low as it can be. I thank you for buying bitcoin and keeping skin in the game.
Yes are right . I understood your point but it's really hard to hold 😂 but I will hold my btc I don't wana lose anything or please suggestion for me I invest in steem?
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What I like helping with is showing people how to do their own research. With very little regualtion ita the wild west out here in thr crypto space right now. You have to believe in a projects tecnology amd future use case. Ita not a good gauge to buy into a crypto because you think its going ro rocket in value. One thing Im doing right now is letting my bitcoin sit in this site while it collects compounded interest. While it collects compounded interest, you have the option to make even more bitcoin. I bought $500 of crypto in september of 2017 and with this site I'm now at 2.5 bitcoin just by collecting interest and refering people to this savings account. This site is called a bitcoin faucet amd you can track its operations in the blockchain. There is no ads to deal with or anything. It was the forst of its kinds.
https://freebitco.in/?r=10453726
Sure I will check this out.
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Oh, feels bad
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Any idea when btc will go again in up trend ?
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Since there's more investments are expected to be pumped into BTC and probably within the next three to five years, BTC may hit $100,000.
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What.....😲 seriously? I think 25k Is enough after 5 years 😂 100k Is too much man....
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