Cryptomarket Tumbles Back After Brief Recovery

The Christmas colors are back on display for crypto market. Till now, almost $10 billion have been flushed out from the market causing huge falling curves to show up on investors’ screens.

This November has been a roller-coaster ride for cryptocurrency. Three major crashes have been witnessed with a subsequent recovery period bringing high-flying crypto prices down to the ground.

This was today:

Crypto Today
Source: Coin360

All major currencies are down by atleast 5%.

With the market change of -7.37% for the past 24h, Bitcoin has plowed through the yesterday’s recovery stable price of $4,200. It briefly went below $4,000 too, coming back up quickly. Bitcoin has lost almost 36% of its value this month.

Bitcoin Chart
Source: CoinMarketCap

The second-in-line, XRP is down almost 5%, with trading value of $0.35, 2 cents behind the today’s opening value. XRP has lost about 19 percent this month.

XRP Chart
Source: CoinMarketCap

Ethereum, the third largest cryptocurrency, controlling 9% of the market hasn’t had a good day either. Its prices are down 5% to $112 against the opening $117. It’s still at number 3, $3 billion in market capitalization behind XRP and has lost about 40% of its price this month.

Ethereum chart
Source: CoinMarketCap

With the Top 3 controlling the steering wheel, the rest of the currencies (except stablecoins) had no choice but to fold.

Cryptocurrency Charts
Source: CoinMarketCap

With no way of metering or predicting the runs, we are entirely at the mercy of these price graphs. There’sonly one way to go: through this.

happy trading!

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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