The main cryptocurrencies continue to decline in price as part of the downtrend that has emerged in the market. Although the pace of decline has slowed somewhat, the bitcoin (Bitcoin) is still trading below the psychological mark of $4,000.
On the morning of November 27, the rate of the main cryptocurrency showed a further decline. This is evidenced by data from СoinMarketСap.
The total capitalization of the cryptocurrency market currently amounts to $121.2 billion. The daily trading volume of the crypto market is $18.4 billion. The cost of bitcoin (Bitcoin: BITCOIN) today was at the level of $3,724, a fall compared to the previous day was 6.05%. Capitalization amounted to $64.7 billion.
Ethereum (ETH/USD) per day lost 8.18% of its value and is trading at $104.94. The price of bitcoin cash is at $173.66, which is less than the previous figure by 14.85%.
The decline in prices for top-end currencies has been observed since mid-November. On November 21, the bitcoin rate dropped to $4,271.4, losing a quarter of its value. On November 19 bitcoin exchange rate exceeded $5.5 thousand.
This weekend crypto market experienced another fall. However, after the market reached the bottom (capitalization dropped to $114 billion), it pushed off and grew a bit. But it does not look like a beginning of a bullish trend.
The main negative factor that led to the fall of the market has been, according to many experts, the hard fork of bitcoin cash held on November 15th. The outbreak of the ‘war’ between the two camps caused uncertainty among cryptocurrency investors regarding the future trajectory of the market. In addition, the depreciation is associated with restrictions on mining and bitcoin trade, adopted in a number of countries, as well as a decline in investor interest, and withdrawal from the speculators market.
At the moment it has become known that the hash war has stopped, though this did not lead to an increase in the market. In this regard, some new, obviously negative, messages have also been received. It is likely that a strong downtrend has just formed on the market, and the reversal of the main cryptocurrencies can occur only against the background of any large-scale positive news. In the meantime, the global trading floors notice a general decline in the interest in risk.
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