Over the past 24 hours, the crypto-market has fallen more than $ 14 billion. Global damage to the crypto-sphere is associated with the fall of Bitcoin (BTC), which over the past day has decreased by five percent, – according to CNN.
Bitcoin, the dominant cryptocurrency in the market in terms of market capitalization and tradingTrading
– is an economic term that means the process of independent trade, independent analysis of the market and the conclusion of trade transactions.Details volume, showed the smallest losses (according to the Crypto Market). Unlike digital gold, Bitcoin Cash (BCH), Ethereum (ETH), Ripple (XRP), Stellar (XLM), Litecoin (LTC), EOS, and many other altcoins recorded losses ranging from 7 to 15 percent.
Recall that, most recently, the BTC level of $ 6,000 was well protected for more than six months. After minor jumps, when BTC fluctuated in the range from 5800 to 6200 US dollars, it always returned to the average level of 6000 dollars.
This week, according to the CCN information service, BTC had two possible scenarios:
- Protect a resistance level of $ 6,000, turning it into a support level with a strong short-term impulse.
- The fall and collapse of the course to $ 5,000.
"Based on current market conditions, a significant surge in prices for main cryptocurrencies is unlikely. But, a gradual increase in prices due to the expectation for Bakkt before the beginning of December remains quite possible." – CryptoYoda1338 on Twitter.
BTC is in a difficult position to overcome a short-term breakthrough of at least $ 6,000. It is difficult to say about the imminent price increase, given its low trading volume and high intensity of "cryptographic collapse" on November 15, 2018, as was indicated in CNN.
Hsaka, a cryptocurrency trader and technical analyst, expressed the opinion that in the coming days a second course change is expected: up to $ 6,300, or at least $ 5,600.
Recall that due to the collapse in the cryptocurrency market, large US technology companies, such as Nvidia, suffered losses in the range from 10 to 30 percent. The demand for miningMining
– is a type of activity for creating new blocks in the Blockchain to ensure proper system operation. Details equipment in the United States has fallen by almost half.
Also, CNBC reported that 25 percent of wealthy investors in the stock market believe that the US market expects a massive "death" of crypto-traders.
"More experienced investors are now frozen and are closely monitoring developments. Any, even a short-term hype, is never a good idea for making "wholesale" changes on the exchanges. Calm recessions over longer periods of time are less significant and do not lead to a “global lull” and a collapse in the market." – Mike Loewengart, Chief Investment Officer, E-Trade Capital Management.
Editor: Yulia Krasnaya