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Monday, November 19: after showing some signs of recovery, on November 18, the cryptocurrency markets undergo another dramatic fall. Bitcoin (BTC) fell below $ 5,000, with some of the top 20 coins falling to 20% at the time of printing, according to CoinMarketCap.
Market display from Coin360
After a modest attempt to climb into the green zone on November 18, BTC today fell by more than 10% during the day and at the time of the press traded at around $ 4,977. In its weekly chart, BTC lost 21.37%.
Chart of daily Bitcoin prices. Source: CoinMarketCap
Ripple (XRP) is down by almost 2% during the day and trades at $ 0.495 at the time of printing. The currency has maintained its position as a second cryptocurrency by market capitalization since it managed to move Ethereum (ETH) on 15 November. The capitalization of XRP is about $ 20 billion, while ETH is over $ 15.8 at the time of printing, according to CoinMarketCap.
Chart of daily prices XRP. Source: CoinMarketCap
ETH has seen a sharp decline of more than 13 percent in the last 24 hours, and is trading at around $ 153 at the time of printing. The highest point of Ethereum on the day was $ 179.70 and the minimum of $ 150.80. In terms of the weekly overview, the altcoin has lost almost 27%.
Table of daily prices of Ethereum. Source: CoinMarketCap
The main losers among the day's highlights are Tezos, Ethereum Classic (ETC) and Dash, down 21.71, 16.05 and 16% respectively.
The total market capitalization of all cryptocurrencies fell to just $ 164 billion today, marking the lowest point of its weekly chart. The daily trading volume is about $ 19.6 billion.
7-day chart of total market capitalization. Source: CoinMarketCap
While cryptography markets declined sharply, the KPMG auditor, based in the Netherlands, published a bullish crux report on November 15th. The report claims that institutional investors must adhere to the industry to "realize its potential".
"In 2018, we are witnessing a wave of new players in the market, such as security platforms for tokens, stablecoin and even established financial services institutions that are launching cryptographic products and services, cryptoassets are now impossible to ignore", we read in the report.
Cointelegraph has also reported today that the Bitcoin Rootstock-based intelligent contract protocol (RSK) is integrating with the spin-off RIF OS project to expand its business scope. This will probably allow the RSK protocol to go beyond Bitcoin and Ethereum network support and include various P2P functions and "accelerate the adoption of open source blockchain technology worldwide".
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