More Bruises For The Crypto Markets As It Fights Off Another Drop This Monday
Crypto Market Recap: 19, November 2018
After a weekend burst, the crypto markets are back to more losses as it continues the Thursday drop. The crypto board is red again and the market capitalization has lost $12 Billion. New yearly lows are just around the corner for most of the coins and tokens. Bitcoin though has a new confirmed low that has reached November 2017 low as well as Ethereum reaching August 2017 level.
The market capitalization has lost 7% bringing it down to $173 Billion from yesterday’s $185 Billion. The trading volume is increasing with more sell-offs at $16 Billion and the Bitcoin dominance has jumped again to 53.4%.
The Bitcoin price has jumped to $5363 from yesterday’s $5596 (Binance) after holding at the $5600 level for a few days. It’s down -4.62% on the day. More losses are expected as indicators are leaning on bearish. Capitalization has dropped more and is now at $92.7 Billion. Bitcoin is in a critical level and should bears push for more, the price is likely to hit the next immediate support at $5230 and the major support at $4929. On the other side, should it go upwards, it needs to clear $5439 in order to make a play for the next resistance at $5500.
Meanwhile, Ethereum has dumped -9.80% on the day taking the price down to $159. The market capitalization is at $16 Billion, $3 Billion away from the second place at the Top 10. Earlier, the price was almost at $180 before it got dragged again to its current price. Its currently testing the yearly low and possibly heading for more losses at $150. On the bright side, should it correct higher at $170, traders can look forward to a $200 level.
The Top 10 crypto are bruised and battered all over again. Cardano has fallen to $0.054 and has lost -11.36% on the day. Monero is back to $79.70 with a -10.43%. Litecoin has dropped below $40 support and is dropping further with the current price at $38.43. EOS is at -9.25% drop rate. XRP, the current crypto favorite also cannot escape the same fate as it lost -5.43% on the day. In this drop, Ripple price has remained to be one of the strongest altcoin in the market.
Down below the Top 25, Maker is draining with a -20.51% loss on the day. VeChain has also been dumping hard with a -14.42% loss. NEO, Tezos, Dash and Ethereum Classic is on the precipice with 11–14% losses. The only winners, if we can call it that is Bitcoin Gold losing only -2.74% on the day and Dogecoin with a marginal -0.70% loss.
The Top 100 has more reds and more losses. A few shone through such as Factom on a pump today with a 30.18% growth. ODEM made 15.80% gain on the day too. Other than that there are minimal gains for the coins on the green today. The top losers are the Go big or Go home coins -Loopring, aelf, Aion, ICON, and Polymath at 15–18% losses.
Overall, this drop doesn’t look like something pushed it, but merely a continuation of last weeks drop. As I said yesterday, the good thing is that the market is opening again to the latecomers with more opportunities for investors wishing to enter the space at yearly lows. The market prices are correcting, which in itself, is not a bad thing.
Anyhow, this is today’s market recap to give you a glimpse of what happened on the crypto markets while you were sleeping. Trade safe, and have a great Tuesday!
Originally published at dna.coinve.st on November 19, 2018.
CoinDNA is an educational website that aids users in research, the first step of their investment journey, providing insights to help navigate investment decisions, including market data for individual tokens, a daily market report, and custom frequently-asked analytics.
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