Yesterday, news of a strict ban in China make sure that Cryptocurrency trading The market took a serious hit. It was actually the third hit to prices this month and the biggest from China in recent years.
However, it appears that China wants to act more seriously than ever against cryptocurrencies and that could shut down a large group of traders from now on. Yesterday’s news created the same amount of fear in the market and prices fell just as much.
Despite this, prices may hold up better than expected from such news and the market appears to be too Fear, uncertainty and doubt (FUD) to get rid of it again. Total market capitalization fell to $1.90 trillion yesterday, rebounded overnight to $2.01 trillion and hovered around $1.98 trillion this morning.
Bitcoin (BTC) It looked like it was about to recover $45,000 yesterday morning, but then the news broke and the price dropped all the way to $41,000, with a loss of nearly 9%. This is a shallower drop than the price achieved earlier this week. Despite this, the recovery has been wiped out in recent days and bitcoin is still in a downtrend at the moment.
However, Bitcoin recovered to $43,000 by midnight and the price appears to be consolidating there. However, this morning the price fell again to $41,750, but then rebounded to $43,000.
So it doesn’t look very stable just yet, and whether Bitcoin can hold that $43,000 remains to be seen now. It now appears that a retest of $50,000 is a long way off, if Bitcoin never sinks further. However, it is still positive in the long run, the big whales Pour the dip immediately:
This shouldn’t come as a surprise, I already hinted this morning
– venturefoundΞr (venturefounder) September 25, 2021
Ethereum (ETH) Bitcoin continues to follow, but it fell sharply yesterday. The price of ether dropped from $3,100 to $2,750, a loss of 11.3%. After that, Ether recovered very quickly to $2,900 and then steadily climbed towards $3,000. However, the resistance there was still a bit high and ETH gradually dropped to $2900 overnight. This morning, the ether also took a big bounce, dropping to $2,800 and going straight back to $2,950.
He loves the biggest cryptocurrency in the market Cardano (ADA) Clearly the best position. ADA initially declined with the two of the aforementioned cryptocurrencies, dropping from $2.32 to $2.05. Then the price immediately rebounded to $2.27. Then the ADA also recovered faster, briefly reaching $2.39 this morning. After that, the price also declined slightly, but at the time of writing, it was still at $2.34. As a result, ADA is one of the only prices today that is higher compared to what it was 24 hours ago.
Just outside the top ten, we see two cryptocurrencies also turning completely green, Terra (LUNA) and Universe (ATOM). ATOM 8% in cation and LUNA up to 13%. If we look a little further, we will find that the tezos (XTZ) and the consonant (ONE) account for 18% and 25%, respectively, in the positive. The fastest gainer in the market this morning is Celer Network (CELR). CELR price broke into the top 100 last night after a 40% rise and then established a new price absolutely high (ATH) Van $0.185
On the other hand, there are a few prices significantly deeper in the red than the rest of the market, especially Chinese projects. Filecoin (FIL) was unable to recover yesterday and is currently on the decline again, causing the price to drop by 12%. Huobi token (HT) and okb (OKB), two distinct tokens for Chinese Cryptocurrency exchange Huobi and OKEx are both over 20% in red.
“Total coffee specialist. Hardcore reader. Incurable music scholar. Web guru. Freelance troublemaker. Problem solver. Travel trailblazer.”