Crypto Takes Hit After 10 Days of Bullish Behaviour

Crypto Takes Hit After 10 Days of Bullish Behaviour

Many major cryptocurrencies have seen significant losses after some impressive growth over the last week and a half.

Today has seen a turn of fortunes for many cryptocurrencies following a good spell of bullish behaviour that had many investors hopes up. Some significant losses have been seen in Ethereum, around 8%, and Ripple, around 7%. While the biggest losses can be seen in Litecoin and EOS who are seeing their value decrease by between 9-11% over the last few hours of trading. Bitcoin has minimal damage, in comparison to some of the other the top 20 cryptocurrencies, decreasing by just 4% at the time of writing.

All bar one of the top 20 cryptocurrencies has seen decreases. That one being Tether, who are strangely still growing, albeit by just around a mere 0.03%.

However, don’t panic just yet as there are two bits of good news.

No Cause For Alarm

Firstly, as mentioned last weekenda decrease is to be expected after a spell of bullish behaviour due to many investors choosing to cash out after a spell of big gains. And secondly, because overall, the market is still up significantly more than it was before the last week or so’s trading.  In fact, all current crypto taking hits are still worth more than they were previously. 

Especially Bitcoin, which is worth more around $10,000 more than it was 2 weeks ago and $15,000 more than a month ago.  As such, for now, it seems like it just the ebb and flow of cryptocurrency that by now, most people should have become accustomed to.

However, keep your eyes peeled for the next 48 hours or so. Many speculators have earmarked 4,000-4,500 as a key figure for Bitcoin. It is believed that at this threshold, it will not fall behind in value again once it had been reached.

As such, if nothing else, this decrease will help evaluate exactly what sort of sustainability bitcoin has in the long-run and the credibility that can be attributed to some speculators out there.

Another reason to watch out for the next few days behaviour is that if they are right and the value drops only a little more, it could be an opportunity to grab some crypto at the lowest price it could be for some time. As some important speculators predicted earlier this week that massive increases are imminent. 

Register for Latest Updates & News

We respect your email privacy

Subscribe now to recieve exclusive updates and offers!

Recently Similar News

Latest Guides

Latest News

11 Biggest Sponsorships Deals for the Crypto Market in 2021

The global sports industry is looking to revamp its activities and recover from the after-shocks of the COVID-19 pandemic. Cryptocurrency platforms on the other hand have enjoyed immense growth and are searching for big platforms that can provide better brand visibility. That’s where sports and crypto make a perfect match with many global sports organizations […]

1 December, 2021

ChangeNOW Unveils a New Cashback Feature

ChangeNow offers crypto users smooth exchanges and doesn’t stop there. The exchange platform provides registered users a chance to profit from crypto swaps with cashback in NOW tokens through the ChangeNOW website. The cryptocurrency exchange and processing platform offer you an effortless way to turn your traffic into profit and boost your crypto journey. The […]

15 November, 2021

Celsius Casino is Raising the Temperatures with a Voluminous Game Lobby

Celsius Casino has become a go-to gaming destination for casino fans looking for an action-packed online gaming platform. The online casino boasts a robust game catalogue with over 4,000 games. The extensive game portfolio caters to Slots, Table Games, and Live Casino fanatics and is powered by well-known providers such as Evolution Gaming, NetEnt, and […]

9 November, 2021

ChangeNOW Has Announced the Release of its Own Digital Wallet

Limitless and swift crypto exchange platform ChangeNOW has released its own non-custodial NOW Wallet, facilitating fiat to crypto purchases and reliable crypto transactions from the comfort of a mobile phone. NOW Wallet is available in beta version for both iOS and Android devices and allows users to transact with over 20,000 currency pairs, regardless of […]

29 October, 2021
BitPanda,Bonus,token

BitPanda Enhances Its BEST Rewards Programme

The EU-based cryptocurrency exchange, BitPanda, has improved its loyalty programme, BEST Rewards. It is now providing owners of its BitPanda EcoSystem Token (BEST) an additional 12% in potential revenue each year. Every registered BitPanda user who has BEST in his or her wallet and carries out at least one monthly trade will be eligible for […]

25 October, 2021
ChangeNOW,Decentralised,Fraud

ChangeNOW’s AML Action Lead To The Return Of $15M COMP

Earlier this week, ChangeNOW announced that it was able to identify and return 45,505 COMP back to Compound. The estimated value of this recovery is around the $15m mark. This remarkable achievement is further proof of the effectiveness of the exchange’s Anti-Money Laundering (AML) procedures. In an announcement made on ChangeNOW’s website, the company provided […]

6 October, 2021
CFD Trading Platform,eToro,Trading

eToro Lowers The FTD Minimum Across Several Countries

eToro, the social trading and multi-asset platform, has decided to lower the minimum first time deposit, or FTD. Until further updates, users who sign up today using the link below will be able to fund their trading account with as little as $50. This offer is only valid to users in selected countries. To participate […]

24 September, 2021
ChangeNOW,Cryptocurrency,Investment

ChangeNOW Launches The NOW Tracker App

The young, but fast-growing online cryptocurrency exchange, ChangeNOW, has just announced the release of its latest product. The NOW Tracker is a free asset management app that lets users keep track of their coins and tokens across different wallets. Available on Google Play and the App Store, NOW Tracker is flexible and functional. This solution […]

9 September, 2021