Cryptocurrency market tumbles, record losses

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Bitcoin, Ethereum, Ripple Prices tumbling, double digit losses over the past 24 hours, “buoyant opportune moments” for crypto buying?

  • Cryptocurrency market has been snapped, getting heavy battering, experiencing a double-digit loss over the past 24 hours
  • Crucial support levels are broken, as all of the cryptos are eyeing a bearish dilly-dally move
  • Buying opportune moments are buoyant, as December may unveil quite a lot of crypto deals

Across the board, the crypto currencies had been battered severely yesterday, however, the bitcoin was on a dilly-dally zone around 6,500 for around a month. Crucially, yesterday was a benchmarking turning point for cryptos, as the market lost nearly over $25 billion and the market is shrinking rapidly. While the bearish momentum was on a pussyfoot move in the day before yesterday, crypto market has again been back on the lows in total market capital of 180 billion.

Bitcoin daily price chart

Bitcoin daily chart

While there was no recognisable catalysts for this “Mad-Max” movement, crypto had always been a sentiment driven market and this recent fall might open up the opportune moment for another muzzle in the muds. While this report is being written, the bitcoin is traded around 5476.10, wiping out all of its recent gains. Ethereum had also been falling sharply residing at 176.9 and there is a chance of a retest of yearly low at 160s. Ripple is down by 25% residing at 0.45 and Litecoin is experiencing another sharp upside- down momentum.

Bottom Line

As the crypto market fall is pervasively Pharaonic, a luculent vibe around the air would have been off-shore for a while. Yet, as December will be coming in with a huge lot of prepotent crypto deals, a buying position seems to be propitious and a clementine equability appears to be upcoming.

Read more on Cryptocurrency here

[Disclaimer: The content of this article is personal opinion and should not be considered as investment advice or suggestion towards any trading activity.]

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