The average market value of ethereum (ETH/USD) drops by 9%, it’s $140 on Tuesday, November 20. Bitcoin (Bitcoin) fell by 17% to $4,460 and now slowly recovers to $4,767.
At the same time, the most liquid cryptocurrencies lost in the price of 10% - 45%, according to data from the CoinMarketCap.
In particular, the ripple (XRP/USD) rate fell by 10.5%, to $0.43; ethereum – by 15.9%, to $133.8; stellar – by 17.5%, to $0.19; bitcoin cash (Bitcoin.Cash) – by 44.8%, up to $203.4.
As a result, bitcoin's capitalization dropped to $82.7 billion, ethereum – to $14.5 billion, stellar – to $4.1 billion, bitcoin cash – to $4.4 billion.
Against the background of a sharp fall in the market, a marked decrease in the hashrates of the main cryptocurrencies is observed. So, bitcoin has lost about 12% relative to the historical maximum, ethereum’s hashrate decreased by 25% relative to peak values in August of this year.
The head of the BitMEX exchange, Arthur Hayes, is sure that interest in the digital money market will decline, as will trading volumes, for at least another year and a half.
Bloomberg believes that the fall in the most popular cryptocurrency is just beginning, and the cost may drop to $1,500. According to analysts, the two versions of bitcoin cash will continue to divert investor and miner resources, causing a further decline in market quotes.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.