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The cryptocurrencies of large market capitalizations such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and Bitcoin Cash (BCH) have once again lost value.
In the last 24 hours, the cryptocurrency market has lost over $ 6 billion, as its valuation has fallen from $ 142 billion to $ 136 billion.
Bitcoin, which seemed to show a fairly strong price movement over the last two days from November 28 to 29, fell $ 150, becoming vulnerable to falling below $ 4000.
$ 3,700
Depending on the volume of cryptocurrency, technical analysts see the price of Bitcoin risk falling below $ 4000 to about $ 3,600 to $ 3,800 in the short term.
Alex Kruger, economist and cryptocurrency trader, said on November 29, before the abrupt 3% drop in BTC, that a scrap worth $ 4,400 could potentially lead to BTC reaching $ 4,800 to $ 4,900.
Bitcoin failed to make an upward move above the $ 4,300 mark, falling back to $ 4,100. At the moment, Kruger He said:
"Looking for $ 4,800 – $ 4,900 if $ 4,400 is being violated.This is the basis of November 19 and just above 20EMA.Starting from 4800 interested in short films.This was initially 4400, changed plan.Under $ 3,700 longs exit: Too early to regain the lows, I would like a preliminary consolidation for this. "
The analyst said the fund was established shortly after Bitcoin recovered above $ 4,000 last week, but stressed that the dominant cryptocurrency does not yet have to form an adequate fund that will allow it to overcome the higher levels of resistance in the range of $ 5,000 to $ 7,000.
"This is a static / base trading game plan with approximate levels.The decision-making process is actually dynamic.This is irrelevant to investors.According to the macro picture, IMO the fund is not in, no matter how big it is appear the chart, "he added.
Technical analysts such as Mayne have also suggested that the price of BTC will likely remain in the range of $ 3000 to $ 4000 in the near future, unless the business does not trigger a significant price increase in the market. 24-hour period, as at November 28, recording a surge of 13%.
Token Bleed Out
Between November 28th and 29th, with the increase of Bitcoin from $ 3,000 to $ 4,200, both the small caps and the small caps recorded an average gain of 20 percent compared to the US dollar.
In the last 24 hours, tokens recorded losses of between 10% and 15%, almost erasing all their weekly earnings.
0x (ZRX), Polymath (POLY) and Ziliqa (ZIL) are among the digital assets with the worst performance of the day, with ZIL reporting a 14% decrease in value.
In a period in which 0x and BAT are behaving badly against the US dollar, even with the listing of Coinbase that cancels the assets to be considered securities in the US market, it is expected that the tokens will continue to record large losses in the short term.
The US federal court recently approved a case in favor of an ICO project against the US Securities and Exchange Commission (SEC) and the case could lead investors to believe that high-profile projects that have the resources to comply with regulations premises could be protected by the SEC.
Click Here for a bitcoin price chart in real time.
Shutterstock foreground image. TradingView Charts.
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