[ad_1]
Tuesday, December 11: cryptographic markets continued to move in a downward trend after challenging a recovery attempt on Sunday, December 9th. Almost all of the top 20 coins saw losses over the 24 hours, with Bitcoin SV (BSV) down, with losses of over 6%.
Market display from Coin360
Having failed to support $ 3,500 yesterday, Bitcoin (BTC) dropped shortly below the $ 3,400 threshold before today. However, the intraday low $ 3,397 is still not the lowest point during the week, with the minimum intraweek of the coin around $ 3,280 on December 7th.
At the time of the press, Bitcoin traded just above $ 3,400, down about 2 percent in the last 24 hours.
Recently, Cointelegraph reported on the greater volatility of Bitcoin, which has increased three times a month.
Bitcoin 7-day price chart. Source: CoinMarketCap
Bitcoin's share of the cryptographic market, or dominant position, currently stands at 55.1 percent, recording a remarkably consistent increase over the last six months.
Bitcoin Market Dominance 1 year chart. Source: CoinMarketCap
Ripple (XRP), the second largest cryptocurrency by market capitalization, is down about 1% today and trading at $ 0.29, after falling below $ 0.30 for the first time since September 17 .
Three month price chart ripple. Source: CoinMarketCap
The third largest Ethereum (ETH) is down by just over 3% over the 24 hours, its price falls below the threshold of $ 90 for the first time since May 2017. At the time of printing, the altcoin trades around $ 88.
All time chart of Ethereum. Source: CoinMarketCap
Bitcoin SV, recently established after a thick fork of Bitcoin Cash (BCH), is recording the highest number of losses among the top 20 encryption markets, with its price lowered by more than 6% from the time of printing. The currency is trading at $ 89.91 and is placed in eighth place in terms of market capitalization, while Bitcoin Cash is in sixth place and trades around $ 101.
Total market capitalization fell back below $ 110 billion, currently to $ 107.8 billion at the time of printing. The daily trade volume is $ 12.7 billion, with 2,068 cryptocurrencies listed on CoinMarketCap.
7-day chart of total market capitalization. Source: CoinMarketCap
While cryptography markets have continued to see a decline since Sunday 9 December, the former chief economist of the International Monetary Fund (IMF) recently claimed that Bitcoin should be considered a "lottery ticket". Kenneth Rogoff, who is currently Professor of Economics and Public Policy at Harvard University, has predicted that the long-term Bitcoin price is "more likely to be $ 100 than $ 100,000".
Following multiple reports of the crash of the encrypted sector caused by the recent market crash, Cointelegraph reported that to date only two miners use ASIC chips (Application-Specific Integrated Circuit) and are oriented to extract coins based on the cryptographic hash function " SHA-256 "- like Bitcoin and Bitcoin Cash – is still profitable for mining.
Yesterday, December 10, the National Assembly of South Korea held a debate dedicated to encryption. Organized by important local cryptographic exchanges, the meeting was preceded by the previous decision of the financial regulator to allow banks to offer encryption services as soon as anti-money laundering (AML) and Know-Your-Customer (KYC) policies are provided. .
Today, the exchange of encrypted Gemini, created by the same brothers Winklevoss, has launched a 'mobile app of crypto trading. Yesterday, Cameron Winklevoss tweeted on the current state of the encrypted market, observing that in 2018 "everyone wanted to be in crypt", while those who want to be in crypt in 2019 remains to be seen.
[ad_2]Source link
