The price of bitcoin and a host of digital assets fell in value during morning trading sessions on November 26, 2020.The price of Bitcoin fell from a high of $ 19,319 on Wednesday night only to lose more than $ 2,000 during the morning hours (EST) on Thursday morning.
- The crypto markets have lost enormous value on Thursday, November 26, 2020. The total market capitalization of the 7,700+ digital assets has lost more than 5% in value and is just below the $ 500K mark millions. ($ 498 billion)
- BTC prices touched a high Wednesday night at $ 19,319 per unit and slid to a low of $ 16,870 during Thursday morning trading sessions. The price has risen since bottoming out on Thursday and so far, BTC has lost 10.9% in value in USD. The price of BTC is currently trading for $ 17,277 per unit.
- Out of exactly 7,784 cryptocurrencies worldwide in 33,471 markets, there is approximately $ 291 billion in global trading volume. Of the entire crypto economy, Bitcoin’s dominance index hovered around 62% on Thursday, down 2.5% from the recent price high.
- The second largest ethereum (ETH) cryptoasset has lost more than 12% so far and each ether is being exchanged for $ 522 per coin. Ethereum has a market capitalization of around $ 59 billion at press time.
- Significant drops in cryptocurrency values in a myriad of markets are not unusual on November 26, as the occurrence has taken place every year for the last three consecutive years.
- XRP cryptocurrency has lost more than 21.18% so far, and the asset is currently trading for $ 0.53 for XRP. Still, for the past seven days, XRP prices have skyrocketed and are still rising 78% over the past week.
- The bitcoin cash (BCH) markets have the fifth largest cryptocurrency valuation on the market, with each BCH trading for $ 278 a coin. Bitcoin Cash has lost considerable value losing 18.5% over the last 24 hours. At press time, bitcoin cash (BCH) has an overall market capitalization of $ 5.18 billion on Thursday.
- Co-founder of Definer, the defi network for digital loans, savings and payments, Chyna Qu explained this week that crypto use cases continue to get stronger. “The true price indicator is the technology behind Bitcoin, and the use cases are constantly growing. We predict that bitcoin will peak later this year at around $ 40,000. “
- While most people have been upset by the recent dump of the crypto economy, several people said that the correction was due many days ago. “This pullback is healthy,” Heidi Chakos (@blockchainchick) tweeted on Thursday.
- An hour later, at approximately 10:00 a.m. Eastern Standard Time, bitcoin (BTC) fell below the $ 17k range to $ 16,318. BTC has lost another 2.2% since this market update was released at 9am on Thursday morning.
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