Sunday, November 25: cryptography markets suffered another crash yesterday and continue until today, with all the top 20 cryptocurrencies for red market capitalization and trading with Bitcoin (BTC) under $ 4000.
crypto markets are witnessing a massive decline of at least 10-15%. Stellar (XLM) suffered more, down more than 20 percent, and traded at $ 0.14 at the time of printing, according to CoinMarketCap.
Market display from Coin360
Yesterday, November 24, Bitcoin dropped below the $ 4,000 price, breaking the threshold for the first time since September 2017. Today, the major cryptocurrency declined further to $ 3,585 before stabilizing around $ 3,800.
At the time of the press, Bitcoin traded at $ 3,835, down slightly less than 10 percent in the last 24 hours.
The largest cryptocurrency has fallen by over 32% in the last 7 days. Before tackling the first massive sell-off this month on November 14, Bitcoin was trading steadily around $ 6,300, which rose about 40% from the current price.
Bitcoin price chart. Source: CoinMarketCap
The major EOS (EOS) cryptocurrency has briefly outperformed Bitcoin Cash (BCH) in terms of market capitalization, becoming the fourth largest currency and following the third Altcoin Ethereum (ETH). Meanwhile, Bitcoin Cash is undergoing some of the biggest losses, down by around 19% during the day. Trading around $ 165, cryptocurrency is down more than 56 percent in the last 7 days.
Top 5 cryptocurrencies for market capitalization. Source: CoinMarketCap
The total market capitalization of all cryptocurrencies fell below $ 130 billion last night for the first time since mid-September 2017. At the time of the press, total capitalization is around $ 120 billion, daily business volumes amount to about $ 19 billion. Bitcoin's market share now stands at 54.5%.
Graph of total market capitalization. Source: CoinMarketCap
Muneeb Ali, CEO of Blockchain PBC, a blockchain project focused on decentralization, recently tweeted that the industry is entering a "winter crypt", inviting "not to need to deny it or minimize it". The blockchain expert predicted that the encrypted investments "likely to dry up", causing arrests of projects in the sector. However, the current state of the market is "far from the end", with the "next wave" providing for a "bigger market", he said.
At the beginning of this week, US Securities and Exchange Commissioner (SEC) Hester M. Peirce provided a pro-crypto statement claiming that regulators "must be willing to open the doors a little bit" # 39; further on for innovation. " Intervention in an interview November 20, Peirce stated that he "refuses[s] the role of gatekeeper of innovation "and stated that this role is" very different "from the true mission of developing" efficient markets ", as well as protecting investors.
As Cointelegraph reported today, former Goldman Sachs executive became the encrypted exec Mike Novogratz said cryptographic markets "will start moving again next year". The founder of the Galaxy Digital bank crypt told reporters that a "price" launch would probably be instigated by the major institutions entering cryptographic space – giving the plans of Bakkt and Fidelity of the intercontinental purse plans to open the encryption as examples.