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Cryptocurrency Markets show no recovery as Bitcoin still very bearish

Bitcoin dominance remains at 53.9% as altcoins continue to bleed in the current market conditions. Bloomberg predicts BTC to reach $1500
Bitcoin dominance remains at 53.9% as altcoins continue to bleed in the current market conditions. Bloomberg predicts BTC to reach $1500

Crypto Market Cap drops to $138 Billion, lowest since months

There has been no recovery throughout the cryptocurrency markets this Saturday as all markets continue to drop to yearly lows, bringing the total cryptocurrency market Cap to 138 Billion. Bitcoin is trading at $4341 as reported by CoinGecko on press time and is showing no signs of recovery as volumes of “longs” remains very low. Many experts predict the price of BTC to drop as low as $3000 in the coming days, while ETH is trading at $123 at press time, and is expected to drop to the next support levels of $32 – $53 range.


 

$72 Billion Wiped off in last month alone, BTC to $1500?

Altcoins are in greens on daily charts with all showing a slight recovery of 0.2% – 1.5% each, with Bitcoin Cash down by 0.22% in last 24 hours and trading at $207 at press time.


Over $42 Billion has been taken off the total market cap in the last 7 days alone from the cryptocurrency industry, while $72 Billion has been lost in the last month alone.

Bitcoin dominance remains at 53.9% as altcoins continue to bleed in the current market conditions. Further losses are expected as Bloomberg predicts BTC to reach $1500 to end the bear markets.

 

What do you think about the crypto winters? What do you think BTC will be worth this Christmas? Pour in your comments below.

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Written by Janet F. Sanchez

Janet Sanchez writes articles which, considering where you’re reading this, makes perfect sense. She is best known for writing cryptocurrency related news and blogs. She also writes about business, finance, and technology. Working from home and taking care of her little son, she has a passion for writing.

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