The price of bitcoin and a great number of digital assets plunged in value during the early morning trading sessions on November 26, 2020. Bitcoinâ€™s price dropped from a high of $19,319 on Wednesday evening only to lose over $2,000 during the course of the morning hours (EST) on Thursday morning.
- Cryptocurrency markets have shed enormous value on Thursday, November 26, 2020. The entire market cap of all 7,700+ digital assets has lost over 5% in value and rests just below the $500 billion mark. ($498B)
- BTC prices touched a high on Wednesday evening at $19,319 per unit and slid to a $16,870 low during the early morning trading sessions on Thursday. The price has increased since the bottom on Thursday and so far, BTC has shed 10.9% in USD value. The price of BTC is currently swapping for $17,277 per unit.
- Out of precisely 7,784 cryptocurrencies worldwide across 33,471 markets, thereâ€™s roughly $291 billion in global trade volume. Out of the entire crypto-economy, the Bitcoin Dominance Index is hovering around 62% on Thursday dropping 2.5% since the recent price high.
- The second-largest crypto-asset ethereum (ETH) has lost over 12% so far and each ether is swapping for $522 per coin. Ethereum has a market cap of around $59 billion at the time of publication.
- Significant drops in cryptocurrency values across a myriad of markets are not unusual on November 26, as the occurrence has taken place every year for the last three years in a row.
- The cryptocurrency XRP shed over 21.18% so far, and the asset is currently swapping for $0.53 per XRP. Still, during the last seven days, XRP prices skyrocketed and are still up 78% over the last week.
- The fifth-largest market cryptocurrency valuation is held by bitcoin cash (BCH) markets as each BCH is swapping for $278 a coin. Bitcoin cash has shed considerable value losing 18.5% during the last 24 hours. At the time of publication, bitcoin cash (BCH) has an overall market cap of $5.18 billion on Thursday.
- The cofounder of Definer, the defi network for digital loans, savings and payments, Chyna Qu explained this week that crypto use cases continue to grow stronger. â€œThe true price indicator is the technology behind Bitcoin, and use cases are constantly growing. We predict that bitcoin will peak at the end of this year at around $40,000.â€
- While most people have been upset about the recent crypto-economy dump a number of people said the correction was due many days ago. â€œThis pullback is healthy,â€ Heidi Chakos (@blockchainchick) tweeted on Thursday.
- One hour later, at approximately 10:00 a.m. Eastern Standard Time, bitcoin (BTC) dropped below the $17k range to $16,318. BTC has lost another 2.2% since this market update was published at 9 a.m. in the morning on Thursday.
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