The Cryptocurrency Market Cap is down -6.52% to $130.61B in 24 hours. Kryptoin is down more by -7.37% to $27.26 and Bitcoin (BTC) loses -6.34% to $4040.83 in 24 hours.
Capitulation? Bitcoin’s Price Dropped 36% in November
Bitcoin (BTC) tanked in November on the back of high volumes, raising the possibility that the market has, to some extent, capitulated.
The largest cryptocurrency by market capitalization is currently trading at $4,000 — down 36 percent from its monthly opening price of $6,318 — according to CoinMarketCap data. That drop marks the biggest monthly loss of the year so far.
Amid the losses, trading volumes jumped by 33 percent month-on-month to $158.48 billion — the highest level since May.
It is worth noting that, at the start of the month, BTC was already down close to 70 percent from the record high of almost $20,000 reached in December 2017. So, November’s losses essentially mark an extension of the bear market (which had supposedly bottomed out near $6,000) with a high-volume drop to 14-month lows below $3,500.
Godbole, O. (2018). Capitulation? Bitcoin’s Price Dropped 36% in November — CoinDesk. [online] CoinDesk. [Accessed 30 Nov. 2018].
Sign-up and visit Kryptoin ETFs homepage by clicking on https://kryptoin.io/ for more blog related information and updates.
https://blog.kryptoin.io/2018/11/30/november-30-18-930am-est-kryptoin-etfs-snapshot/
