Opinions

Cryptocurrency Donns Red For December 25

Cryptocurrency spent the 25th December in all red. All major currencies are down by 8-18%. The two-day period of good trading is over and the shadows of the past are back to haunt us with bear runs and severe volatility.

Dec 25 Cryptocurrency Charts
Source: coin360.com

With this appalling conditions in market on the day of festivities, alot of theories have sprung out from people who are trying to make sense for this crash. Some say that its the low-end of the pump and dump wave that kept rising for the last two days. Some think that it is the front wave of the jump back to $6,000 wave. Codswallop in my opinion.

Here’s how top slot holders spent their Christmas.

Bitcoin:
The king of the market started the day with $4,080 in cash. At around 5:00 (UTC+5:00) a sudden change in mind of holders showed up on the graph as a loss of around $150 in 15 minutes. From there on, it’s sharp surges and dumps till now when the USD price is at $3,772. BTC lost 10.93% of its strength today.

BTC chart
Source: coinmarketcap.com

XRP:
From $0.41 to $0.37, XRP is down by 14% with about a billion dollars lost in market capitalization. It is currently trading at $0.3743 and is down by 7% of the monthly status.

XRP chart
Source: coinmarketcap.com

Ethereum:
Ethereum had a worse day than both of the currencies that are above it in market capitalization. It had a fun week, peaking up to almost $160 in the yesterday’s rally. It has worked hard in remapping the distance between the second player, XRP and itself. The $4 billion gap in market capitalization is down to 3 and te monthly status for Ethereum is plus 5%.

Ethereum chart
Source: coinmarketcap.com

The fact is, last x-mas was way better than this one in terms of USD but crypto’s come a long way since then.


Sarim Mehmood

An electrical engineer to be. Sarim is a blockchain & crypto enthusiast and an early investor in ETH and Ethereum based projects. Contact the editor at editor.opinions@blockpublisher.com

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