Bitcoin (BTC) fell from $ 3,913 to $ 3,398 in the 48 hours prior to the deadline. That's a loss of almost 15 percent. Over the same period, other cryptocurrencies, such as Ethereum (ETH) and Stellar Lumens (XLM), have yielded between 10 and 20 percent. Ethereum's share price dropped from $ 112 to $ 85. Stellar Lumens lost over 13 percent and slipped from $ 0.15 to $ 0.11 per coin.
Looking at the last 12 hours before the editorial deadline, the crypto market has lost another nearly $ 20 billion in capitalization. The reason for this is that the tokens have lost on average 10 to 20 percent in value against the US dollar. Total market capitalization was $ 107 billion, compared to $ 216.8 billion a month earlier.
The crypto currencies Waves, Maker, Aion, Chainlink and Theta Token showed significantly better price performance than most low-capitalization ERC-20 tokens. At the same time they experienced strong sales.
Is a $ 2,000 Bitcoin rate unavoidable?
On November 25, Bitcoin fell to its lowest point in the year so far, at $ 3,456. Already in November, the well-known crypto currency analyst Willy Woo had made a prognosis in this direction. Woo said Bitcoin would not reach the bottom by the second quarter of 2019, in his view. Woo tweeted at the time:
“Assuming the view for the blockchain, I suspect that the bottom will be reached in the second quarter of 2019. After that the real accumulation band starts. Only then can we take the long and arduous way up. “
Considering the intensity of the downtrend in the past two weeks, a dip to a new year low seems likely. So Bitcoin could fall in the range of $ 2,700 to $ 2,900, especially considering the trading volume.
Technical analyst DonAlt believes the support level for Bitcoin is not strong enough. He further assumes that if Bitcoin falls further below the support level, a price below $ 3,000 could be the next target. He tweeted:
“Finished under support, that does not look too good. Bitcoin must quickly exceed the support levels again. Otherwise, I suspect that it falls on previous lows. If they do not hold, I believe in $ 2,900. “
Location of the cryptocurrency market
Currently, Bitcoin's market swing oscillators are selling oversold at $ 3,300. In the short term, the crypto market may experience a small recovery from its price depression.
It remains to be seen whether the major crypto currencies will succeed in breaking key resistance levels in December. If that does not happen, Bitcoin will probably stay in the $ 3,000 to $ 3,500 range.
Sources: Twitter 1, Twitter 2, Pixabay
Author: Peter Joost – Source Post: https://www.kryptovergleich.org/bitcoin-ripple-xrp-stellar-ethereum-eos-kurse-im-frei-fall-kryptowaehren-verlieren-fast-20-milliarden-usd- over night/
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