Bitcoin loses value while Ripple limits the damage
Bitcoin loses value while Ripple limits the damage

Bitcoin loses value while Ripple limits the damage

By Federico Izzi - 26 Nov 2018

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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

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

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

Financial analyst and independent #trader – S.I.A.T. & partner. He operates actively on stock and derivatives markets (futures and options) since 1997. A precursor of cyclic-volumetric analysis he is known for having identified the most important upward and downward movements in the financial markets of recent years. He participates annually as a speaker at the ITForum in Rimini since the 2010 edition and InvestingRoma and Napoli since the first edition of 2015. He is a guest and market expert on the "Trading Room" and "Market Driver" broadcasts of Class CNBC, Borsa and on the evening news of Traderlink. Since July 2017 he is a permanent guest on LeFonti.TV, the only weekly national space dedicated to cryptocurrencies alongside the most important international experts in the field. He was interviewed as a cryptocurrency expert for Forbes Italia, Panorama, StartupItalia and DonnaModerna. He was recognized as the first Italian technical analyst to have published the first secular cyclic analysis on Bitcoin. Periodically publishes articles on ITForum News, Sole24Ore, MILANOFINANZA, TrendOnLine and Wall Street Italy. Federico Izzi is... "Zio Romolo".

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