- Bitcoin keeps losing; value reaches $57,050.06, a loss of 0.72% in 24 hours.
- Ethereum’s journey of downfall continues, reaching $4,177.91, losing 0.01% in 24 hours.
- SHIBZ keeps rising, adding 30.44% to its value; HAM shares the chart with a 16.85% green.
- Dogecoin ranks 11th, adding 0.25% in 24 hours.
The crypto industry continues to amuse investors and interested people due to fluctuations in prices and market cap. Currencies like Bitcoin and ETH continue to fall, and the investors’ hopes waver. Modern-day challenges continue to keep investors in an uncertain state of hope and hopelessness. Despite the losses and gains, the market cap of cryptocurrency continues to grow.
The market cap of crypto stands at $2.46T, showing a decline of 4.45%. The shrinking of the market continues, showing a negative trend.
Bitcoin fails to retain its value, dips to $57,050.06
Showing a 0.72% decrease in 24 hours, Bitcoin has continued its downward journey. Over a week, Bitcoin has seen a decline in its value. Despite being the leading currency in the crypto market, it has lost 7.35% in the last seven days. Current market cap of BTC equals $1,072,259,624,625, while the volume in US dollars amounted to $34,993,754,939 which equals 616,181 BTC.
Recently, there was the hope of BTC crossing $60K, but these attempts wavered. The graph below shows Bitcoin’s fierce struggle, but it continues to lose. At the time of writing, BTC’s value is about $57K, and if it gains momentum, it might cross this barrier.
The circulating supply of Bitcoin at the time of writing is 18,880,681 BTC, as per updates by CoinMarketCap.
Ethereum dips to $4,177.91; altcoins also suffer
Ethereum continues to follow the trend of loss, losing 0.01% value in the last 24hrs. At the time of writing, the price of ETH in the market was $4,177.91, which shows a negative trend in its price compared to the last 24 hours. This week has been a bad one for ETH, with a continuous negative trend of 3.91%.
The current market cap of Ethereum has been estimated to be $490,270,333,657. Though the second in the list of largest cryptocurrencies, it has seen a continuing downfall. It has struggled and reached $4,300 but then again lost momentum. As the weekly trend shows, it has continued to fight back, but the loss is prevalent, as metrics show. ETH’s volume for last 24 hours has been $19,344,037,083 in US dollars which equals 4,673,609 ETH.
Binance shows a 0.64% Decline in 24 hours, continuing to lose like other currencies.
At the time of writing, the price of Binance in US dollars was $566.96. It has seen a loss of 7.71% this week, conforming to the trend of decline like other top currencies. Bitcoin ranks first in the list, followed by Ethereum, and then Binance stands third. All of them show red trending, as evident from the graphs.
The market cap of Binance recorded at the time of writing was $94,472,290,118.
SHIBZ and HAM trending with +28.44% and 21.01%, respectively
Hamster (HAM) is considered the top currency among trending ones. It has gained a 21.01% value in the last 24 hours. It has followed the green trend throughout the week, with a value of 11.84%. What makes it top the chart is the continued gain throughout last month which saw its rise of 83.09% in the last 30 days. It is one of those coins which have gained in their market cap and volume throughout the month. As it is evident from the chart, it has made huge leaps in the last seven days and widely in thirty days.
The current market cap for HAM is $87,315,697, with a volume of $1,858,337. While the current price of Hamster in the market is $0.00000003662.
ShibaZilla (SHIBZ) is the second on the trending list of CoinMarketCap. It has seen a rise of 28.46% in the last 24 hours while a gain of 89.08% in the last seven days. As the metrics show, it is performing well compared to the top currencies facing a constant decline. SHIBZ’s overall performance in the last 30 days shows a negative of 50.51%.
Doge spikes with 0.25%, standing at $0.2231
Dogecoin (DOGE) has remained trending due to the backing of Elon Musk. Currently, it remains 11th on the list. It has been gaining during the last 24 hours showing green of 0.25%. The trend for the last seven days has been that of loss equaling 9.94%. It was recently ousted from the top 10 by Avalanche, holding the 10th position in the list.
The market cap for Doge at the time of writing was $29,479,177,411. Its volume for 24 hours has been $914,917,907.
Even though giants like BTC, ETH, and BNB remain in the top three positions, constant fluctuations in crypto prices remain. Some coins have shown tremendous progress, like HAM and SHIBZ, while coins like DOGE continue to change into green and red, not showing constancy.
The fluctuation of crypto attracts the interest of investors because of the thrill and gain. A rule of thumb is to Buy the Dips; Sell the Rips. This may seem logical when traders are reluctant to stay in a position when they cannot predict what will happen overnight. Here’s a good explanation of why “buying the dip” is a horrible strategy for stocks. What about cryptocurrencies? Whales can control the cryptomarket by buying and dumping, and people are swayed by FOMO.
Despite the risks, there has been a continued interest in crypto. It is a fast-growing industry and attracts investors because of the profits that it provides. Investment profit is maximized if done early in the launching of a project. The promising future can ONLY be assured by a community that stays loyal and confident through the dips.
Don’t try to predict the future; Don’t fight it either; Just go along with it.— CZ 🔶 Binance (@cz_binance) November 23, 2021
Do you think Changpeng Zhao (CZ), Binance CEO, is for buying the dips? Please tell us in your comments below.
Rich Dad Poor Dad Author Issues Dire Warning on Inflation, Says He’s Buying Bitcoin, Ethereum and Two Additional Assets
Rich Dad Poor Dad author Robert Kiyosaki is concerned that working-class Americans will be wiped out by rising inflation unless they invest in several key assets.
In a YouTube video on The Rich Dad Channel, the widely known author says that true capitalism has been abandoned, and the government instead intervenes on behalf of banks.
“The reason they’re talking about inflation or deflation is because, way back when, in the 70s, a true capitalist would let a business fail. According to [Austrian political economist Joseph] Schumpeter, capitalism destroys inefficient companies.
If you look at one example, not too long ago there was Blockbuster Video. Then Netflix came along and they’re toast. They’re just gone. A true capitalist wipes out the inefficient or the obsolete.
But for the last so many years, since 1907 really, they’ve been saving the banks. The banks are so corrupt, and the reason the Federal Reserve had to come in was to protect the rich bankers.
And what they did was, back in 2008 there was quantitative easing, which is a very complex subject, but basically the Fed just prints money and gives it to banks to prevent them from failing. That’s not capitalism, that’s Marxism. That’s socialism, that’s communism. It’s called central banks.”
Kiyosaki warns that unlimited money printing as part of official government policy will eliminate the working class.
“The reason inflation is going to wipe out people is because the average person is a consumer. Everybody talks about, ‘T-bone steak [costs] this now, and gasoline’s this and toilet paper is that.’
That’s because… Everything’s to protect the bankers. And that’s why I feel for the working-class people. I think it’s criminal that our school system is part of Marxism. There’s no financial education in the schools and it’s not a mistake.
To the people who are complaining about inflation, just know it’s because the Federal Reserve Bank, the U.S. Treasury… they’re as corrupt as they come.”
The author tells his 1.8 million followers on Twitter that the recent 25% price increase at discount retail chain Dollar General is a bellwether event signaling that investors should protect themselves by picking up some cryptos like Bitcoin (BTC) and Ethereum (ETH), as well as gold and silver.
“Dollar Tree becomes $1.25 Tree. Inflation is a tax on the poor and middle class. Inflation makes the rich richer.
Get smart. Get richer. I am buying more gold, silver, Bitcoin, Ethereum, rental real estate, and oil. What are you buying?”
CNN Business reported this week that Dollar Tree cited rising inflation and the ongoing supply chain crisis as reasons why it planned to permanently abandon its longstanding $1 price point on all products.
At time of writing, Bitcoin is valued at $55,190, Ethereum is exchanging hands for $4,367, gold is going for $1,781, and silver is worth $22.44. Kiyosaki also issued a warning in September that a major stock market crash would occur in October of this year.
Top 3 Price Prediction Bitcoin, Ethereum, XRP: Crypto markets may hit the brakes
- Bitcoin price congestion and indecision continue, but opportunities on both sides develop.
- Ethereum price fails a bullish breakout above its bear flag, threatening continuation moves south.
- XRP price is positioned at a make-or-break point, hovering above final support that could thrust Ripple below $0.80
Bitcoin price remains inside the Cloud within the Ichimoku Kinko Hyo system, indicating continued volatility and uncertainty. Ethereum price failed to close above the bear flag on Tuesday, but the bullish structure remains. XRP price barely holding support, could drop lower.
Bitcoin price develops opportunities on its Point and Figure charts
Bitcoin price remains stuck inside the Cloud on the daily Ichimoku chart, providing little opportunity or guidance when viewed from that chart style. However, Point and Figure charting reduces the ‘noise’ associated with Japanese candlestick charts and focuses only on price action, giving a clearer picture of Bitcoin’s behavior and what kind of trading opportunities exist.
A theoretical long trade setup exists with a buy stop order at $60,000, a stop loss at $58,000, and a profit target at $66,000. This hypothetical entry is exceptionally bullish for two reasons. First, the entry is a breakout above a triple-top, and second, the entry confirms a powerful bullish reversal pattern in Point and Figure known as a Bearish Fakeout.
BTC/USD $500/3-box Reversal Point and Figure Chart
The theoretical long idea is invalidated if the current O-column moves below $55,000.
On the short side of the trade, a hypothetical short idea is a sell stop order at $53,000, a stop loss at $56,000 and a profit target at $44,000. The entry confirms one of the most sought-after short entry patterns in Point and Figure, a Bearish Catapult. In addition, a trailing stop of one to two boxes to protect any implied profits would help mitigate any whipsaws in price action that may occur.
BTC/USD $1,000/3-box Reversal Point and Figure Chart
The hypothetical short setup is invalidated if the long idea above is triggered.
Mercado Pago: it will not be possible to transfer Bitcoin purchased on the platform
Mercado Pago announced the launch of a service that will allow Brazilians to buy, reserve and sell cryptocurrencies.
As announced by the payments arm of Mercado Livre, this is an initiative in partnership with Paxos.
The collaboration will allow integration with the Mercado Pago account and the management of operations, with blockchain technology.
Thus, without leaving the app, users will be able to track the price, as well as buy and sell Bitcoin, Ethereum and USDP; stablecoin from Paxos.
“This is an important milestone for Mercado Pago, which continues its trajectory by democratizing and massifying operations with cryptocurrencies. From the account, we want to accompany our users as they enter the crypto paradigm, which is gaining more and more relevance in the financial world. Based on the experience of quick and secure use of our platform, we will offer simplified access to these assets”, says Osvaldo Giménez, CEO of Mercado Pago.
Transactions with Bitcoin, Ethereum and USDP can be carried out with money available in the Mercado Pago account. The minimum purchase price is R$1.
However, at this first moment, users who buy cryptocurrencies will not be able to transfer them to external wallets.
Cryptocurrencies in the Paid Market
According to Tulio Oliveira, vice president of Mercado Pago in Brazil, with this first step towards the crypto universe, the company wants to contribute to a great leap in education and financial inclusion of the Brazilian population.
“We will monitor our users closely. Let’s help them improve their cryptocurrency trading experience. In addition, we will offer all educational support for them to make the best decisions”, he said.
Walter Hessert, head of Strategy at Paxos, said that this is a transformative moment for Latin America.
“Mercado Pago is offering a perfect experience in crypto and stablecoins, reaching millions of Brazilians. This will accelerate the conventional adoption of cryptocurrencies and stablecoins across the continent. We are excited to partner with Mercado Pago to make this possible”, he concluded.
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