Analytics / Forex and Crypto News
On the first working day, the cryptocurrency market entered the red zone, followed by Bitcoin, the rollback of almost all digital currencies resumed.
At the time of publication, the BTC rate fell below $33000. The BTC/USD pair is trading at $32500. Over the past 24 hours, cryptocurrency capitalization has decreased to $617.987 billion.
The rest of the coins are also in the red zone now. Over the past 24 hours, the price of Ethereum (ETH) has dropped below $1000 (-23%). Litecoin (LTC), Bitcoin Cash, and XRP fell more than 20% to $125, $435, and $0,2749, respectively. The value of all cryptocurrencies on Monday, January 11, fell to $895 billion.
The rollback took on a massive scale. According to the forecasts of the WhaleMap team, a new support zone is expected to be around $32000 on the BTC/USD chart. After that, we will enter the consolidation phase.
Preparations for the massive sale began in the second half of last week. The first alarming signal was the short-term drop in BTC to $36000, provoked by the whales.
After that, Bitcoin bounced back and even jumped to a record high of $42000 on many exchanges. But even then, some analysts announced overheating in the market, the result of which would be an inevitable and painful fall in the cryptocurrency in the very near future.
During November, ICO-projects sold 416K ETH. This is the largest figure since the summer, reports Trustnodes.
According to Santiment, in August, ICO startups sold only 100,000 ETH. In September, sales of digital currency increased significantly, reaching 300 thousand ETH. In Nov