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The world of finance and cryptocurrencies are more volatile than ever. All coins and tokens have seen fluctuations in their value.
Bitcoin (BTC) in particular has seen a bullish trend in the market and continues to grow in strength and value, reaching a whopping value of $ 14,060.67. In 2017, BTC reached a value of nearly $ 20,000, and this served to silence some of the skeptics and encouraged further investment in the cryptocurrency markets.
Exchanges like Skilling are at the forefront of the latest changes and updates in the financial markets. They are able to monitor trends as they occur and update their information to get real figures. Here is a summary of the cryptocurrency markets and any recent developments.
Recent Developments in Crypto
PayPal saw its shares soar to record highs when it introduced cryptocurrency to the platform. This started with the ability to use BTC and cryptocurrencies to spend over 26 million sellers accepting PayPal as a payment method.
Aside from select companies that have incorporated PayPal crypto payments, using BTC to pay at regular merchants isn’t slated to launch until early 2021. PayPal said this move will allow their system to be certain. of value and there will be no incremental fees.
BTC fell 3% after hitting a high of over $ 14,000. This is partly due to the uncertainty surrounding the US election results, which has increased the volatility of financial markets. This drop in price is critical as the dollar price fell simultaneously, which shows that all markets, especially the S&P 500 and cryptocurrencies, have undergone a correction and we will only know what will happen to the markets once the votes are over. finally counted, the clear winner of the elections is selected.
Twitter also made headlines because following a board review, they decided to keep their pro-crypto CEO Jack Dorsey. This decision showed confidence in the management, organization and even acceptance of cryptocurrencies, with the potential they have to transform modern finance.
Best performers in November
It is quite difficult to clearly discern the objectives in the market as BTC is the only sign that it has seen a significant increase in the price. Alternative coins (Alt Coins), for example Ethereum and Lite Coin, have experienced very little or no significant growth in the last month. This is as unusual in the market as it normally is, as the value of BTC grows, Alt coins follow the same trend, only on a smaller scale.
Ethereum and Lite Coin, being the most popular cryptocurrencies after BTC, have seen a less than 2% increase in value over the past month with very few signs of a noteworthy bullish current that will ultimately entice more investors and traders to buy more tokens. and flood the markets.
Binance Coin, similar to the other popular Alt coins, has shown less-than-percentage growth over the past month. However, over the past year, despite the volatility, the value has increased 3x, showing that it is a stable coin for experienced investors.
What’s next?
After the election we will have a clearer picture of where the market is and whether there have been any significant gains or losses. One thing remains clear, the volatile nature of the markets will remain, but this is not necessarily a downside. Analysts around the world are suggesting that BTC break out of its previous price and continue to rise. More and more organizations and companies are finding some form of relationship with cryptocurrencies and in particular with BTC. 2021 will see the cryptocurrency market scrutinized under the microscope as many suggest that BTC will follow the same parabolic trend as 2017 and a price boom.
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