The drop below the $4,000 mark has further dampened the spirits of enthusiasts and analysts who predicted that Q4 2018 would bring a new all-time high for the market's number 1 digital asset. However, no one can pinpoint the exact cause of the free fall.
Last Monday, one Bitcoin was equivalent to about RM20,000, today the same Bitcoin is worth less than RM17,000. At press time, the currency was trading at $4,017. Investors seeking to trade Bitcoin Diamond should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as GDAX, Gemini or Changelly.
Failure to move back through the morning high would see Ripple's XRP struggle through the rest of the day, a pullback through the second major support level at $0.3325 bringing sub-$0.30 levels into play before any recovery, Ripple's XRP seeing its resilience being tested through the weekend. Historically, weekends haven't been too kind to cryptos.
1 person dead, 2 others hurt after Alabama mall shooting
He added: "We know the deceased was armed with a handgun and we know he shot the person who was transported (to the hospital)". One teen is dead and two others have been injured following a shooting at an Alabama mall prior to Black Friday shopping .
According to him the main problem with decentralization is the fact that it makes it easier to create new forks and create new currencies and these splits diminish the power of Bitcoin to a great extent.
In the past seven days, the crypto market has experienced a drop of more than $63 billion, as major cryptocurrencies recorded double-digit drops. If this comes to fruition, the crypto markets won't begin recovering from the recent negative price movements until Q3 of 2019'. This is followed by BTC (30.9%), USDT (17.3%), KRW (12%), and United States dollars (0.4%). For comparison, bitcoin's (BTC) dominance rate is currently 53.9 percent while the rate of ether, now the world's third-largest cryptocurrency registers 9 percent. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. In a fortnight the market has shrunk by 43% in what has been the largest loss this year.
Litecoin was the biggest gainer in the top 10 after gaining 6 percent to trade at $30. At the time of writing, it is trading just above $3,700, still above the fresh low of $3,456. Meanwhile, the race for fifth has continued heating up, with EOS and Stellar Lumens being neck and neck. The current market cap of Bitcoin Cash is around $2,928,139,819 and the market cap of EOS is $2,924,146,681 according to data from coinmarketcap.
Not all cryptos are in the green, with Cardano, Monero and Dash being in the red, the only ones in the top 20 cryptos.