Last week was a turbulent week in the cryptocurrency world and it seems that it is not over yet. I got the prices a week ago Helping hand from Twitter newsThen they took a big hit because of the situation About the Chinese real estate company Evergrande.
The cryptocurrency market managed to recover a bit after that, but prices fell again on Friday due to the ban in China. At the time of writing, prices are down again. Total market capitalization failed to recover to $2 trillion this week, dropping to $1.88 trillion this morning.
# bitcoin She entered the Never Gonna Give You Up stage of the Astley cycle. pic.twitter.com/zDDF6qklec
– Willy Woo (woonomic) September 25, 2021
Bitcoin
Bitcoin (BTC) It was above $48,000 a week ago and then down to $40,000. The price then rebounded briefly to $45,000, but then dropped to $41,000. Yesterday, volatility started declining and the price consolidated. However, they failed to recover the $43,000 and things looked rather shaky. Last night, $43,000 was rejected again and bitcoin dropped to $42,000. This morning, Bitcoin has plummeted again, dropping back below $41,000.
Bitcoin has dropped to that level three times this week, but it has held up each time, so it may come back now. However, it does not look very stable and a drop towards $39,000 is also possible. Bitcoin is down as much as 14% this week, and a retest of $50,000 now seems a long way off right now.
Liquidations can always push the price below 40.7K. This can pay #BTC Back to 40k or 39.5k or less. I would like to see the wick to the bottom and back to the top if we get filtered.
In the near term we need to see 40.7k on hold and start paying again.
– Daniel Joe (@DanielJoe916) September 26, 2021
Altcoins
Altcoins are generally getting stricter today. Ethereum (ETH) It failed to break above $2,950 yesterday, retreated to $2,850 last night and is currently dropping to $2,750. Ether has also crossed that bottom line three times this week, but it’s not entirely certain if it will last. Even the price of ether is 19% in the negative level this week.
Cardano (ADA) I got a big boost last night Because of this news. ADA price rose to $2.45, but then fell strongly again. ADA fell to $2.15 this morning, down 12%. However, the ADA is down “only” 8% this week, the lowest among the top ten.
Binance Coin (BNB) has also been dragging the correlation downward for a while. BNB price comes in at $322 and is down 22% this week. Solana (SOL), which recently made a massive rally, suffered the worst cryptocurrency this week. SOL is down to $125 and down 25% this week. Polkadot (DOT) stock is also down sharply this morning. DOT comes in at $27.3 which is down 23%.
A number of Chinese cryptocurrencies have been hit the hardest this week. Both EOS (EOS) and iota (MIOTA) are down 33% compared to last week. Filecoin (FIL) is down nearly 40%, while huobi token (HT) is down more than 50%. Huobi, the largest Chinese Cryptocurrency exchange It just announced that it will shut down all customers from mainland China by the end of this year:
Huobi, China’s largest crypto exchange, says it will suspend all existing users in China before December 31 https://t.co/odQkvJf72F pic.twitter.com/3NnUVJmRpG
– Blockport Insights (Bloqbot) September 26, 2021
However, there is also one exception in the crypto market this week. Celer Network (CELR) broke into the top 100 last week. The price of CELR is up 60% this week and even more than 300% this month. CELR jumped again this morning and arrived at a new one absolutely high (ATH) Van $0.195.
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