Bitcoin and Other Cryptocurrencies Begin The “December Rise”

During the month of November, the crypto world capitalization market lost USD 75 billion. Only the price of Bitcoin lost a third of its value. It seems that the month of December begins to sit well with the crypto market. At least yesterday, which was the first day, prices looked positive.

Investors observed that at 8:00 a.m. in New York, the Bitcoin price climbed 4.61%. Its price reached USD 4,196.99; so it went back up the barrier of 4,000 US dollars, which had been last the past week. There are many transactions with Tether and also with South Korean won and Japanese yen. This confirms that – as always – the movement from the eastern world is important.

It is not the only currency to climb. Ethereum rose 4.18%, Ripple 4.20%, Bitcoin Cash 3.12%, and EOS 4.04%. Other cryptocurrencies achieved even higher increases, such as the case of Stellar, which increased by 7.01%, Cardano 7.34%, and Tron 10.28%. The increase of this last one could be related to the news of its support to a direction of video games.

93 of the top 100 cryptocurrencies are on the rise, and the capitalization market earned USD 5 billion in a few hours and is now at USD 135 billion.

Top 10 CryptoCurrency Price Analysis Today

Fall in November

The crypto market had a value on the last day of November of USD 130 billion, USD 75 billion less than what was its price at the beginning of the month, which was USD 205 billion. That is, the loss is 36.5% of its value. However, if we calculate the price with which it had at the beginning of the year when it exceeded USD 800 billion, the loss is 83.7% of its price so far this year.

For its part, if we analyzed the behavior of Bitcoin last month, we can see that on November 1, it had an average value of USD 6,400. This indicates that it lost more than USD 2,400 in the month (yesterday was just under USD 4,000). If we are to take the value in percentage,  then it could be said that Bitcoin lost approximately one-third of the value it had at the beginning of November.

In other currencies, this loss is even more dramatic. The specific case of Bitcoin Cash is revealing. On November 7 it had a value of USD 630, and in three weeks its value was constantly reduced, and just last week it was at USD 171. This means that it lost more than 72% of its value in relation to that date. Let’s not forget that about the currency that bifurcated in the middle of the month and that this was the main cause of its decline.

Recovery?

The beginning of the recovery? It is still early to say, although some analysts have predicted that December will be a better month for cryptocurrencies than its predecessor. However, our site prefers not to make forecasts, because the market for crypts has a behavior that is not so obvious or predictable in the medium and long-term, so that future calculations may be erroneous

Disclaimer: The information on this site is provided for discussion purposes only, and should not be misconstrued as investment advice. Under no circumstances does this information represent a recommendation to buy or sell securities.