CV Market See: Weekly Trading Overview (15-22 December)
The week began with a nosey phenomenon- Bitcoin sliding leisurely, while altcoins were having trascendente pumps, doubling te a day to all-time highs on the smallest of news. But just spil the period embarked with excellent enthusiasm, Friday’s trading caused a loterijlot of jitters, wiping out more than 25% from the market cap of the entire market.
Bitcoin (BTC) proved it not only lifts up the market, but makes it druppel. A mix of factors created massive sell-offs, distancing the crypto leader from the latest peak above $20,000. BTC traded at $13,988.30, down more than 21% this week and wiping out 16% ter the last day.
How Tethers Affect Bitcoin:
The dominance of Bitcoin shrank even more rapidly, to spil low spil 44% during the peak of altcoin pumps, going up a bit to 45.2%, spil the market cap of the entire crypto space glided toward $500 billion.
Ethereum (ETH) managed to fly way above $800 before crashing te the $600 range. ETH wiped out a quarter of its value to druppel to $637.89, down a netwerk of 5% for the week, but losing most of its all-time-high gains, submerging again to a more subdued price.
Bitcoin Contant (BCH, BCC) had a wild week ter which a supposed leak for an order book on GDAX lifted prices to spil much spil $9,000 on a makeshift anomaly. But the coin sank spil well, not managing to displace Bitcoin, from latest peaks above $Four,000 toward $Two,300.01.
Ripple (XRP) wasgoed one of the few green oases ter the market on Friday, but it also experienced a shakedown, drowning from $1.26, the latest peak, toward $0.91. The asset kept around 16% of its weekly gains, but its slide widened, at one ogenblik losing more than 13% te an hour of trading.
Litecoin (LTC) peaked at $370, but fell on the genérico trend, down more than 28% te the past 24 hours to $231.89 spil the losses continued ahead of the weekend.
IOTA (MIOTA) traded shortly above $Five on Wednesday before giving way and regaining some strength around $Trio.72. The asset wiped out a third of its value ter a day.
Cardano (ADA) wasgoed te everyone’s talk this past week, but the up and coming coin did not escape the correction, sliding to $0.35, still up more than 68% te the past week.
DASH (DASH) sank toward $1,039, distancing from the $1,500 peaks, down more than 30% te a day.
NEM (XEM) climbed above $1, but soon after that eyed the crash, losing more than 36% ter the past 24 hours to $0.68. NEM has kept 13% of the televisiekanaal weekly gains.
Bitcoin Gold (BTG) managed to climb above $400, before drowning by 35% ter the last day to $278.
Monero (XMR) wiped out 35% te 24 hours to $295.78, still not supported enough by its claims at anonymity. Right now, it is only the market price that matters, and the technical features for a loterijlot of coins are an afterthought.
Almost all coins had seemingly random, but dramatic pumps. The climb of Bitcoin Specie above $Three,500 and to $Four,000 wasgoed unexpected and turned out to be an anomaly, not organic growth. Other coins like Golem (GNT) and Civic (CVC) doubled overnight, but went out to wipe out most of the gains. Electroneum (ETN), managed to keep the gains after a re-launch, hopping on a recommendation by John McAfee, but with limited growth due to a rather puny market.
The cryptocurrency market merienda again proved it is totally unpredictable and still shaken by jitters finta lightly. No one knows if the current correction is just a makeshift glitch on the way up, or a replay of 2013 when a price peak wasgoed quickly followed by a long ice age and a bear market that lasted for years.