Bitcoin bears last more, with XRP, Stellar, Bitcoin Money, Cardano and BAT dropping essentially the most among the many prime altcoins
Bitcoin is down 1.37% and is trading at USD 6,273, while crypto analyst Willy Woo says, “The time for a low point could be around Q2 2019.” The majority of the crypto market is in the red and is around 7 Billions of dollars wiped off total market cap. Among the top altcoins, Bitcoin Cash (BCH), XRP, Stellar (XLM), Cardano (ADA) and BAT are losing most of their values.
Bitcoin Bears will be in effect through the middle of next year
Most of the crypto market is currently in the red. The leading cryptocurrency traded at $ 6,273 with a 24-hour loss of 1.34 percent. With a market cap of $ 109 billion, the company has managed daily trading volumes of $ 4.5 billion.
Bitcoin is trading below the USD 6,275 support level against the USD. In the short term, BTC is at risk of further losses below the USD 6,250 support level.
Meanwhile, crypto analyst Willy Woo announced on Twitter that Bitcoin will remain bearish until the middle of next year. only then do we start a long grind upwards. “
He shared an in-depth thread to discuss this scenario:
30% believe the bottom has been reached, 40% think there are more bears, and 30% are undecided.
People asked what I think. Nothing has really changed for me except for some side nail bites.
I will repeat with updates … https://t.co/hhmyWXUoCF
– Willy Woo (@woonomic) November 13, 2018
Crypto market today in red
The situation of the top 5 cryptocurrencies is shown in the following graphic:
When it comes to top altcoins, Bitcoin Cash (BCH) has lost most of its value by nearly 9 percent at $ 475 in the past 24 hours. This digital currency saw a huge spike in the news last week of its upcoming hard fork on November 15th.
XRP is another top altcoin that is losing nearly 5 percent while falling below its all-important price level of $ 0.50. Despite a string of positive news in the form of Ripple CEO Brad Garlinghouse talking about the acquisition of SWIFT and that some of the largest banks using SWIFT are partnering with Ripple, XRP is falling in parallel with the crypto market.
After EOS retired from 5th place, Stellar (XLM) is 6.21 percent in the red at $ 0.2485.
Meanwhile, Cardano (ADA) is down 5.80% as the chairman of the foundation resigns. “Michael Parsons, Chairman of the Board of Trustees of the Cardano Foundation, has resigned with immediate effect. Pascal Schmid, member of the council, will temporarily take over the chairmanship of the foundation board. The foundation endeavors to add suitable persons to the board of trustees as quickly as possible. “
The red BAT (Basic Attention Token) is down 11.15% from its high. WAX bears the highest losses with almost 20%.
When it comes to winnings, Sirin Labs Token (SRN) registers the highest greens by 12.56%. Tether (USDT) is also in the green by 0.33% but still below $ 1 at $ 0.989. This has resulted in a total market cap loss of around $ 7 billion.
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