Cryptocurrency Prices: Insignificant Growth in the Currency Rating

According to the trading portal Coinmarketcap.com, Bitcoin (BTC) rose by 0.46% in the last 24 hours. The price at the time of writing is $8315.

The indexes are growing, cryptocurrencies are in the green zone again, although the increase in the rating is no more than 8% of the cost. Ripple added 1.25%, Monero increased by 3.06%, Stellar added 1.32% to the value, EOS rose by 7.30%. Litecoin grew only by 0.43%.

Ethereum is showing an increase by 1.42%. Its value at the time of writing is $704 per coin.

The total market capitalization is $383 billion. Bitcoin accounts for 36.9% of the total amount. It is $141 billion in monetary terms.

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Three Hellish Days for Cryptocurrency: Reasons of The Fall of The Currency and What To Do Next?

The current condition of the cryptocurrency market raises a number of question from traders. For the third day, the industry is either trying to revive Bitcoin and other cryptocurrencies, or just watching the collapse of the course.

The question of what caused the collapse of the market and what should do those who still have cryptocurrency  – makes world crazy. That is why, The Coin Shark have found answers for all of these questions and analysed per minute history of the fall of currency of Bitcoin.

The Chronology of the fall from 14th to 16th November

Wednesday, November,14 , Bitcoin break another 2018 bottom.  According to data of CoinMarketCap, at 11:34 UTC the rate of the first cryptocurrency behaved stably, being at $6 365.

Nothing foretold troubles, but at 17:19 UTC began unexpected fall, which last till the 19:19 UTC, where the price of BTC remained in half-dead condition at $5 765. Therefore, the capitalisation of the marked fell to $102 billion.

After that, Bitcoin started to resist. In 20:04 UTC the currency show vital signs, increased to $5 858. But still, the end of 14th November was not a happy ending. In 22:48 UTC was settled a new record – $5 568.

Source: https://coinmarketcap.com/

If compare the data with an individual market, then on a Bitstamp the price of the BTC has already dropped to $5 534, and on the Kraken – $5 510. Last two weeks, Bitfinex exchange trade Bitcoin more than $6 000 per each unit.

It turned out, that the 14th of November was still far from the end of BTC fall. According to CoinMarketCap, Thursday, November, 15, at 17:04 UTC, Bitcoin shocked everybody with the course of $5 358. On Bitstamp the first cryptocurrency down to $5 446, and on the Bitfinex – $5 638. At this point, this is the lowest course from the end of October, 2017.

Source: https://coinmarketcap.com/

The condition of the cryptocurrency market for the last year is unstable. It is accompanied by unexpectable highs, as well as painful falls. But not only Bitcoin drop it’s price position on 14th of November. Together with it, into a deep red zone came the major part of other cryptocurrencies. In doing so, the total capitalisation fell by $190 billion.

Source: https://coinmarketcap.com/

At the writing of this article, 16th of November, the condition of the cryptocurrency market is still in critical position – the course of Bitcoin stood at $5 500, and Ethereum backed down the second place in capitalisation Ripple.

Source: https://coinmarketcap.com/

What caused the collapse?

Just think about it, less than 24 hours ago, it was possible to sell the BTC on a thousand dollar higher. Probably, it is impossible to define why “the foundation was cracked” under the cryptocurrency, as for the example it can be done in a regular market. In the digital, the effect is first  seen and only than the reason becomes known.

Reason #1: Contagious effect

On the basis of past, the cause of the fall have psychological nature.
For example, people are massively starting to buy cryptocurrencies or fanatically selling.

Reason #2 : Direct correlation

Each financial currency  pegged to its government, as for the example dollar – to the US economy. Cryptocurrency pegged with the people, which are both buying or selling it.

Reason #3: Global Bitcoin influence

Ironically, but there is a theory, that the general condition of the cryptocurrency is affected by Bitcoin. The value of all digital market is estimated in $182 billion, the $90 billion of which belongs to BTC. The majority of cryptocurrencies  should be transferred especially in Bitcoin, before the sale.
And now imagine, that selling of Bitcoin will start simultaneously several major players of the market. After this, the BTC prices are lowering, and this cause  the panic attacks more than ones: “ Buy everything and as quickly as possible, while the price is low!” – this makes the course to grow.

What should do the owners of cryptocurrency: sell or wait?

It depends on the inner aspects of each owner. Even when the course is rising – it still have cycles of fall.

Who and how will affect the collapse of rate?  

Cryptocurrency is the unstable tool. It’s system decentralised and doesn’t have the management center. Digital currency should strengthen the positions, so it can give the accurate forecast for the future. But, it appeared, that this fall will have no affect on ordinary users.

There is no denying, that in a consequence many crypto-business will close. Cryptocurrency exchange are in the minimum risk area, as in such cases the number of transaction increases.

Most of all, miners and the owners of the mining field will suffer the most. Since, the profitability depends on the price of extracted cryptocurrency. Within recent events, it is clear that mining is unprofitable occupation.

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Crypto Wars: Jihan Wu vs Craig Wright, Who Gets McAfee’s Support?

The infamous hard fork of Bitcoin Cash has created some tension between the major crypto personalities in the industry. It is especially the case with the supporters of the two different BCH protocols.

One of the main “fights” has started between the CEO of Bitmain Jihan Wu and a computer scientist Craig Wright, who have repeatedly gone at each other on the social media, claiming that their vision of Bitcoin’s future is correct. Later on, the “war” was joined by John McAfee who supported Jihan Wu.

Craig Wright did not take long to respond.

Hopefully, the conflict will be settled peacefully, because the crypto industry needs all of the abovementioned people to function properly and develop.

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Cryptocurrency Prices Today, November 16: Cryptocurrencies Continue Falling after the Collapse

crypto prices

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the Coin360 online platform, Bitcoin (BTC) lost 0.87% over the past 24 hours. The price at the time of writing is $5575 per coin.

Some cryptocurrencies keep declining, others are trying to return to the green zone:

Bitcoin Cash lost 5.51% over the past 24 hours and costs $418 per coin;

Ripple added 2.55% and costs $0.47;

EOS gained  0.28%, and its price is $4.56;

Litecoin grew by 0.46%, and its rate is $43;

Cardano lost 0.50%, and its value is $0.061;

Stellar increased by 4.68% and costs $0.24;

IOTA added 0.81%, and its price is $0.41;

Dash lost 1.03% and is $138 in value;

Monero dropped by 0.62%, and its rate is $88.

Ethereum fell by 0.35% over the past day. The cost of the coin is $177.

The total market capitalization dropped significantly to $182 billion. Bitcoin accounts for 52.8% of the total amount. In monetary terms, the volume dropped to $96 billion.

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The Twitter Account of Google Was Hacked to Promote a Scam BTC Giveaway

As we reported about a scam on Twitter yesterday, we had no idea that its organizers would go beyond hacking the accounts of Target and The Body Shop. We remind you:

A Major Twitter Scam Made Target Promote a Bitcoin Giveaway

But they did. They hacked the account of Google. According to the report by The Next Web, one of the official account of Google on Twitter, GSuite, became another victim of the hackers trying to endorse their fake Bitcoin giveaway.


Source: Twitter

The representative of Google stated the following:

This morning an unauthorized promoted tweet was shared from the G Suite account. We removed the tweet and are investigating with Twitter now.”

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Cryptocurrency Prices Today, November 15: Cryptocurrencies Collapsed in Price

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the Coin360 online platform, Bitcoin (BTC) lost 10.76% over the past 24 hours. The price at the time of writing is $5643 per coin.

Almost all cryptocurrencies absolutely crashed in price:

Bitcoin Cash lost 13.28% over the past 24 hours and costs $447 per coin;

Ripple dropped by 8.94% and is $0.46 in price;

EOS fell by  11.7%, and its price is $4.66;

Litecoin lost 13.45%, and its cost is $42;

Cardano decreased by 14.13%, and its value is $0.061;

Stellar lost 8.24% and is worth $0.23;

IOTA became cheaper by 16.64%, and its cost is $0.48;

Dash dropped by 12.34%, and its price is $142;

Monero decreased by 13.95% and costs $90.

Over the past day, Ethereum lost 12.76%. The cost of the coin is $179.

The total market capitalization dropped significantly to $185 billion. Bitcoin accounts for 53% of the total. In monetary terms, the amount dropped to $98 billion.

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A Major Twitter Scam Made Target Promote a Bitcoin Giveaway

Twitter scammers are getting more and more intricate to make their fraud look like it’s not fraud. This time another scam involves a couple of popular brands (and, surprisingly, not Elon Musk).

A couple of unknown crypto criminals started spreading a tweet, encouraging the community to participate in a BTC giveaway. The scammers promised to give out $30 million worth of crypto. The tweet were quickly deleted, but some members of the crypto community managed to capture it.

The most interesting part of this whole scam is that its organizers allegedly hacked account of such popular companies as Target, The Body Shop, AHDB etc. and used them to endorse their endeavour.

There seem to be no other details on the victims of the scam or whether the hackers were caught or not.

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