Logo
Cardano Ecosystem

BitcoinEthereumNews

11/18/2021

·

587 views


Watch This Key Level As The Price Of Bitcoin, Ethereum, BNB, Cardano, Solana, And XRP Continue To Tank

The post Watch This Key Level As The Price Of Bitcoin, Ethereum, BNB, Cardano, Solana, And XRP Continue To Tank appeared on BitcoinEthereumNews.com. Bitcoin and cryptocurrency prices have dropped further after a sudden sell-off earlier this week. Subscribe now...

Watch This Key Level As The Price Of Bitcoin, Ethereum, BNB, Cardano, Solana, And XRP Continue To Tank

Bitcoin and cryptocurrency prices have dropped further after a sudden sell-off earlier this week.

Subscribe now to Forbes’ CryptoAsset & Blockchain Advisor and discover hot new NFT and crypto blockbusters poised for 1,000% gains

The bitcoin price fell as low as $56,500 per bitcoin on some exchanges, down almost 5% on the last 24 hours and taking bitcoin’s losses on this time last week to a decline of 11%. Bitcoin volatility has weighed on the price of ethereum, Binance’s BNB, solana, cardano and Ripple’s XRP—all down between 4% and 8% over the last 24 hours—and wiping around $500 billion from the combined crypto market capitalization in just over seven days.

As bitcoin, ethereum, Binance’s BNB, solana, cardano and Ripple’s XRP all struggle, traders are desperately searching for signs of a floor with one crypto exchange chief exec naming bitcoin’s $1 trillion market capitalization as a possible support level.

Sign up now for the free CryptoCodex—A daily newsletter for the crypto-curious. Helping you understand the world of bitcoin and crypto, every weekday

MORE FROM FORBESA Legendary Billionaire Market-Maker Issued A Serious Bitcoin Price Warning-And A Bold Ethereum PredictionBy Billy Bambrough

The bitcoin price has lost more than 10% over the past week, trading across a range of $10,000 per … [+] bitcoin as ethereum, Binance’s BNB, solana, cardano and Ripple’s XRP struggle.

SOPA Images/LightRocket via Getty Images

“The price action on bitcoin continues to look weak,” Pankaj Balani, the chief executive at Singapore-based crypto derivatives exchange Delta, said in emailed comments. “We can expect more volatility in the coming sessions but bitcoin’s $1 trillion market cap should hold as a good support in the short term.”

Bitcoin broke back above the $1 trillion mark in early October after a summer slump, with the bitcoin price rally propelling the wider market to an all-time high combined value of around $3 trillion. Earlier this month, the bitcoin price rally took bitcoin’s market cap to highs of $1.3 trillion. This week it’s fallen back to just under $1.1 trillion.

The recent volatility comes as inflation fears spread to central bankers who are now expected to accelerate plans to lift interest rates. Earlier today, analysts at Wall Street giant JPMorgan brought forward their prediction of a Federal Reserve rate high to September next year, it was reported by Bloomberg.

“[The latest bitcoin and crypto sell-off] is coming at a time when the macro backdrop has also started to deteriorate given the rising inflation,” added Balani. “It won’t be surprising to see central banks taper off some liquidity from the markets in order to cool down the inflation. This should put downward pressure on all risky assets including bitcoin.”

CryptoCodex—A free, daily newsletter for the crypto-curious

MORE FROM FORBESJPMorgan Doubles Down On Its Massive Bitcoin Price Prediction-But Adds A Serious WarningBy Billy Bambrough

The bitcoin price has lost over 10% this past week, with falls for ethereum, Binance’s BNB, solana, … [+] cardano and Ripple’s XRP, wiping billions from the combined crypto market capitalization.

Coinbase

Despite the likes of bitcoin, ethereum, Binance’s BNB, solana, cardano and Ripple’s XRP losing billions over the last week, many crypto market watchers remain upbeat.

“The current market correction is attributed to a range of factors, such as the recently strengthening U.S. dollar index and the recent U.S. infrastructure bill that seeks to introduce greater regulation of crypto,” Freddie Evans, sales trader at the U.K.-based digital asset broker GlobalBlock, wrote in a note.

“However, there remain multiple technical indicators that suggest this is not the end of the current bull market and so this continued correction might not last long.”

Source: https://www.forbes.com/sites/billybambrough/2021/11/18/watch-this-key-level-as-the-price-of-bitcoin-ethereum-bnb-cardano-solana-and-xrp-continue-to-crater/


YouTube video

Post navigation

AD

World’s First Multi-Token ISPO — By Genius X - Starts on 12th of September, epoch 363!

Genius X, a revolutionary launchpad and business accelerator helping Web3 startups attain speed, scale, and edge, is thrilled to announce the world’s first Multi-Token ISPO.I WANT TO KNOW MORE!


Read Original Article on BitcoinEthereumNews

ORIGINAL SOURCE

https://bitcoinethereumnews.com/bitcoin/...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


NotifyLog - One stop tool for events tracking and analytics

More from BitcoinEthereumNews

See more
Cardano Kicks Off 'Big Week' as Testnet for Wrapped BTC Goes Live: Details - BitcoinEthereumNews.com
BitcoinEthereumNews
Cardano Kicks Off 'Big Week' as Testnet for Wrapped BTC Goes Live: Details - BitcoinEthereumNews.com

today at 4:40 AM

·

4 views

Related News

See more
WingRiders Governance Token

Featured News

See more



    DEFAULTENGLISH (EN)SPANISH (ES)RUSSIAN (RU)GERMAN (DE)ITALIAN (IT)POLISH (PL)HUNGARIAN (HU)JAPANESE (JA)THAI (TH)ARABIC (AR)VIETNAMESE (VI)PERSIAN (FA)GREEK (EL)INDONESIAN (ID)ROMANIAN (RO)KOREAN (KO)FRENCH (FR)CZECH (CS)PORTUGUESE (PT)TURKISH (TR)
NotifyLog - One stop tool for events tracking and analyticsWorld’s First Multi-Token ISPO — By Genius X