Total market capitalization falls
Wednesday, November 21, the cryptocurrency market continues to fall. All the most liquid cryptocurrency fell. For one bitcoin now worth $4 610,42. This is evidenced by the coinmarketcap site as of 13:00 on Kiev.
In the last 24 hours of Bitcoin has fallen in price on 0,55% – to $4, 543, Ripple – on 3,56%, to $0,441, Ethereum – on 1,68%, to $133, Stellar – on 0,58%, to $0,201. At the same time, Bitcoin is Cash on 42,48% to $235.
The trading volume for the last day made up: Bitcoin to $7.9 billion, Ripple – $1.4 billion, Ethereum – $3 billion, Stellar – $144 million, Bitcoin Cash – $136 million
Capitalization of Bitcoin now is $79 billion, Ripple – $17.8 billion, Ethereum – $13.7 billion, Stellar – $3.8 billion, Bitcoin Cash – $4.1 billion,
The total capitalization of all cryptocurrencies fell to $147 billion.
We will remind, on 14 November, the bitcoin exchange rate fell against the U.S. dollar by 8.3% on Thursday – 2.92% (on closing prices). On the Bitfinex team for two days, its loss was 16%. Three days the players tried to find a foothold – a fair price for forming reveals. After consolidation at the level of $5660 and unsuccessful attempts to return to around $6000, the rate dropped to $5200 (-7,5%).
However, experts believe that the rate of bitcoin will not fall below 4 thousand dollars.
“From the last positive news we can note the statements by the head of the International monetary Fund (IMF) Christine Lagarde. IMF recommends Central banks to consider issuing its own digital currency, to offset the decline in the use of cash. With regard to the institutional players, they will not go to the spot market. They specifically create futures and options. Breakdown of $5000 to me would mean that the regulators have achieved their goal to reduce the interest in the cryptocurrency. After the collapse of the market will for a very long time to recover. So, the target area $4960 – $4372. A drop below $4 000 not yet considered. A sharp bounce up to $600-$1000 would point to the renewed interest of buyers,” – said UBR.ua analyst at Alpari Vladislav Antonov.