Imminent Financial Collapse 2021 (Ultimate Bitcoin Beginner’s Guide)
At about noon on November 14, a sharp decline began on the crypto market, during which most coins lost 10 to 20% of their value, and the total market capitalization decreased by $ 30 billion, reaching an annual low of $ 180 billion.Bitcoin also could not resist the global sell-off and fell up to $ 5560, which is the lowest in more than 12 recent months.
In addition to Bitcoin (BTC), almost all cryptocurrencies, with the exception of stablecoins, lost at least 10%, ether (ETH) fell to $ 175, ripple (XRP) up to $ 0.447, Bitcoin Cash (BTH) up to $ 428 and Litecoin (LTC) up to $ 42. The subsequent rebound could not stabilize the situation and at the time of writing the material, the downtrend continues, although its dynamics have weakened a little. In the process of falling rates of alcoins, there is also a tendency to an increase in the market share of BTC, which increased by 2% during the period of the collapse. It is noteworthy that Ripple has been holding the second position of the rating, bypassing Ethereum.
Since Monday, there has been an increase in volatility, and over the course of 7 days, the overall downward dynamics and growth in speculation in anticipation of the Bitcoin Cash hard fork. Although experts predicted that the bear market would continue, there was no specific reason or news for such a sharp decline..
Many speculated that the relatively low volatility with the parallel attraction of institutional investors to the crypto industry and the expectations of the launch of new derivatives would lead to a recovery. However, analysts say that at the moment the share of large participants is too small for dramatic changes..
Most experts revised their year-end forecasts. In their opinion, the crypto market will have to wait for the popularization of blockchain technology and the growth of interest from institutional investors..
The cryptoindustry is going through a difficult period, so companies, trying to survive, are starting to direct their business in a classic way. EXMO announced that it will soon become the first crypto exchange to be listed on the stock market.
text: Ivan Malichenko, photo: Shutterstock, CoinMarketCap, d3ncwv2e9zpfbf.cloudfront