The exhaust units record the BTC volume on Binance, XRP extends the ETH

Market updates

Cryptocurrency markets continued to record significant losses, with BCH, BTC and ETH recording new lows for 2018. Despite losing legal value, XRP's gains when traded on BTC extended its dominance over ETH.

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BCH publishes all historical lows

The BCH continued to produce bearish momentum, falling to historic lows against fiat and cryptocurrency couplings. Measuring against the dollar, BCH spent most of today, November 21, rebounding between the record area of ​​$ 230 and local resistance at around $ 270. BCH lost about 60% of its dollar value in the last two weeks, following his controversial hard fork. At the time of writing this, BCH is trading for around $ 247 on Bitstamp.

During the measurement compared to BTC, BCH recently released its lowest price recorded since its trade opening date, falling in the 0.045 BTC area yesterday on Bittrex. Since then, BCH / BTC has rebounded about 16% at the time traded for 0.05123 BTC. BCH / BTC has lost over 42% in the last two weeks.

BCH is currently the fourth largest cryptocurrency market with a total capitalization of $ 4.1 billion, or about 2.75% of the total capital cryptocurrency cap.

BTC falls below $ 5,000 for the first time since October 2017

BTC is currently trading at non-witnessed prices since October 2017, at around $ 4,620 on Bitfinex and $ 4,500 on Bitstamp at the time of writing this article. On Tuesday, BTC recorded a new low for 2018, dropping to $ 4,300 on Bitfinex and $ 4,050 on Bitstamp. Binance, the exchange that hosts the largest volume of BTC exchanges, also recorded a record volume during yesterday's landfill.

The BTC has decreased by 28.5% over the last seven days and has fallen by more than 76% from its historical highs of around $ 19,900. The stochastic RSI of BTC is located at the bottom of the lower threshold at 20 in the one-day, three-day and weekly charts.

The market capitalization of BTC is $ 79.24 billion, accounting for 53.3% of the total capitalization of the cryptocurrency markets according to Coinmarketcap.

XRP extends dominance over ETH

The XRP has posted mixed performances in recent days, showing consolidation against BTC and at the same time losing value against the dollar. XRP is currently trading for $ 0.445 after devaluating to test support in the $ 0.41 – $ 0.42 area several times on November 20. Looking at the daily chart, XRP seems to have channeled within a side range in the last two months, despite having dropped its lowest point in six weeks.

During the measurement compared to BTC, XRP consolidated within a tightening range in the 0.0001 BTC area in the last days.

The position of XRP as the largest competitor for market capitalization has significantly expanded in recent days, with a capitalization of almost $ 17.8 billion of ripple that currently includes 12% of the total capitalization of the cryptocurrency markets. At present, the market capitalization of XRP is 27% higher than the total capitalization of ETH.

ETH has obtained a minimum of 16 months against USD

The price of ETH has dropped to unmonitored levels since July 2017, with markets recording an annual low of around $ 125 on Bitfinex on Tuesday. Ethereum has lost about 36% in the last seven days and has shrunk by about 90% from the December highs of around $ 1,400. At the time of writing this article, ETH is trading at around $ 136.50.

Although it has just come down to test the September annual low of 0.027 BTC, the ETH / BTC charts seem to test a support area after several days of consolidation between 0.029 BTC and 0.031 BTC. Except for the September fall and a net rally in early May 2017, the market had not fallen below 0.03 BTC since mid-March 2017. Currently, ETH is trading at about 0.0295 BTC, with a reduction of almost 80% from the historical highs of January.

ETH is currently the third largest cryptographic market with a total capitalization of about $ 14 billion, or 9.4% of the value of combined cryptocurrency markets.

Do you think the bear season has hit the bottom for the year? Or are there new lows in sight for crypto in 2018? Share your thoughts in the comments section below!

Images courtesy of Shutterstock, Trading View, Bitcoinwisdom

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