HomeTradingBitcoin loses value while Ripple limits the damage

Bitcoin loses value while Ripple limits the damage

After witnessing a rebound in prices at the beginning of the day of this last week of November, which from yesterday morning levels recorded recoveries between 10 and 15 percentage points, in the afternoon bitcoin returns to lose value, along with the prices of all other cryptocurrencies.

Bitcoin loses value

If this morning all the main cryptocurrencies were moving in positive territory, after 12.00 (CET) some begin to be affected by sales.

Among the worst, there are Eos and Iota (MIOTA) who lose more than 5% from yesterday afternoon levels. Even bitcoin, after having managed to recover the 4100 dollars, returns to touch the 3700 dollars with a loss close to 3% in the last 24 hours.

Among the best, Ripple (XRP) returns to be noticed, rising 2% and taking the merits after showing resilience despite having suffered the bearish repercussions of the rest of the sector during the last week. In the top 20, also Zcash (ZEC) performed well with +5% and Nem (XEM) up 3%.

The falls of the last two weeks have pushed about 30 tokens out of the list of Coinmarketcap, an event that has not occured since last February, highlighting the difficult period.

Since the beginning of the month, the capitalization has lost more than 40%, going from $205 to just over $120 billion, exactly the same levels as a year ago in a very different context and sentiment.

Bitcoin loses value
Search: https://it.tradingview.com/symbols/BTCUSD/

Bitcoin (BTC)

In less than 12 hours, bitcoin had recovered over 15% going from 3650 to just over 4120 dollars, but then in the afternoon continued to lose value.

The weekend that opens the Christmas shopping season sees the return of crypto volumes which do not suffer any downturn despite the recent price drops drowning the dreams of glory of many bitcoin fans.

The situation remains delicate. It is necessary to wait for confirmations over 4000 dollars, otherwise the test of 3400-3500 dollars will be inevitable.

Bitcoin loses value
Search: https://it.tradingview.com/symbols/ETHUSD/

Ethereum (ETH)

For the first time in more than 18 months, yesterday Ethereum’s prices abandoned the $100 threshold.

This has touched the pride of fans of the queen of smart contracts bringing the price back to three figures in a few minutes. The rebound of the last few hours has almost reached 120 dollars supported by large volumes.

This, however, was not enough to support the prices that in the afternoon have deflated bringing prices below the threshold of 110 dollars. For bulls it is crucial to hold on to the 110 dollars, otherwise, the breakage of the 100 dollars would bring down the morale even more.

Federico Izzi
Federico Izzi
Analista finanziario e trader indipendente – Socio S.I.A.T. & Assob.it. Opera attivamente sui mercati azionari e dei derivati (futures ed opzioni) dal 1997. Precursore dell’analisi ciclica-volumetrica è noto per aver individuato i più importanti movimenti al rialzo ed al ribasso sui mercati finanziari degli ultimi anni. Partecipa annualmente come relatore all’ ITForum di Rimini dall’edizione del 2010 ed InvestingRoma e Napoli dalla prima edizione del 2015. Interviene come ospite ed esperto dei mercati durante le trasmissioni “Trading Room” e “Market Driver” di Class CNBC, Borsa Diretta.tv e nel TG serale di Traderlink. Da luglio 2017 è ospite fisso su LeFonti.TV nell’unico spazio nazionale settimanale dedicato alle criptovalute insieme ai più importanti esperti internazionali del settore. Periodicamente pubblica articoli su ITForum News, Sole24Ore, TrendOnLine, Wall Street Italia. E’ stato intervistato in qualità di esperto di criptovalute per: Forbes Italia, Panorama, StartupItalia, DonnaModerna. E’ stato riconosciuto come primo analista tecnico italiano ad aver pubblicato la prima analisi ciclica secolare sul Bitcoin. Federico Izzi è… Zio Romolo