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The price of bitcoin and a large number of digital assets plunged in value during early morning trading sessions on November 26, 2020. The price of Bitcoin fell from a high of $ 19,319 on Wednesday night to lose more $ 2000 during the morning hours (EST) Thursday morning.
- The cryptocurrency markets lost huge value on Thursday, November 26, 2020. The aggregate market cap of all 7700+ digital assets has lost more than 5% in value and remains just below the 500 mark billions of dollars. ($ 498 billion)
- BTC prices peaked Wednesday night at $ 19,319 per unit and slipped to $ 16,870 during early morning trading sessions on Thursday. The price has risen from Thursday’s low and so far BTC has lost 10.9% in USD value. The price of BTC is currently trading at $ 17,277 per unit.
- Out of precisely 7,784 cryptocurrencies worldwide in 33,471 markets, the volume of global trade is approximately $ 291 billion. Across the crypto economy, the Bitcoin Dominance Index hovers around 62% on Thursday, falling 2.5% since the recent price peak.
- The second largest crypto-asset ethereum (ETH) has lost over 12% so far and each ether is trading $ 522 per coin. Ethereum has a market capitalization of around $ 59 billion at the time of publication.
- Significant drops in the value of cryptocurrencies across a myriad of markets are not unusual on November 26, as the event occurs every year for the past three years in a row.
- The XRP cryptocurrency has lost more than 21.18% so far and the asset is currently trading for $ 0.53 per XRP. Yet in the past seven days, XRP prices have skyrocketed and are still up 78% over the past week.
- The fifth market cryptocurrency valuation is held by the bitcoin cash (BCH) markets, with each BCH trading for $ 278 a coin. Bitcoin cash has lost considerable value by losing 18.5% in the past 24 hours. At the time of publication, bitcoin cash (BCH) had an aggregate market cap of $ 5.18 billion on Thursday.
- Co-founder of Definer, the Defi network for digital loans, savings, and payments, Chyna Qu explained this week that crypto use cases continue to strengthen. “The real price indicator is the technology behind Bitcoin, and the use cases are constantly increasing. We expect bitcoin to peak at the end of this year at around $ 40,000. “
- While most people were upset by the recent crypto-economy dumping ground, a number of people said the correction was due several days ago. “This pullback is healthy,” Heidi Chakos (@blockchainchick) tweeted Thursday.
- An hour later, around 10:00 a.m. Eastern Standard Time, bitcoin (BTC) fell below the $ 17,000 range to $ 16,318. BTC has lost an additional 2.2% since this market update was released at 9 a.m. on Thursday.
See all the crypto price action today in real time by leveraging markets.Bitcoin.com to know the latest values of your favorite digital assets.
What do you think of the recent correction in the crypto economy? Let us know what you think of this topic in the comments section below.
Image credits: Shutterstock, Pixabay, Wiki Commons, markets.bitcoin.com, Charts.Bitcoin.com,
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