Market Update 11.15.18 – Demirors Tells Investors to Calm Down Amid BTC Price Drop

| Publish date: 11/15/2018

Market News

Demirors Tells Investors to Calm Down Amid BTC Price Drop

The CSO of CoinShares, Meltem Demirors, speaking on CNBC’s Fast Money Segment, urged investors to calm down amid the massive 12% price drop experienced by BTC in the last 24 hours. He said that institutions taking money off the table was the main reason why the price of Bitcoin dropped so drastically, to trade at below $5,600 for the first time in 2018.

The cryptocurrency exchange-traded products company’s CSO said that this kind of volatility should not come as a surprise because of the expected Bitcoin Cash hard fork. She said that any time there were hard forks, things tended to get “weird and strange” and that the price drop was just people being risk averse.

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Canaan Creative’s IPO Looming

The Bitcoin mining hardware maker, Canaan Creative’s application for an IPO (Initial Public Offering) is looming as its filing status at the Hong Kong Stock Exchange (HKEX) is now inactive.

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The status of the mining hardware company’s IPO application has been marked as “lapsed” according to a database update on the HKEX. The company had filed an application for an IPO six months ago and had targeting raising $1 billion. However, now, according to a news report by Reuters, the company had dropped its fund raising target to just $400 million.

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Google Play Store Has 4 Fake Crypto Wallets

Lukas Stefanko, the Malware researcher, has discovered 4 fake crypto wallets on the Google Play Store, which were trying to steal users’ data. The four apps were posing as wallets for Tether, NEO, Ethereum and MetaMask, and were supposedly designed to phish users’ credit card information and mobile banking data.

Stefanko stated that of the 4 “wallets”, the MetaMask one was actually a phishing wallet, while the other three were fake wallets. Stenfanko also posted a video on his blog, explaining the research he had done to discover these “fake wallets”. He noted that the NEO fake wallet app already been downloaded 1,000 times since it had been launched in October.

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Total Market Cap: Nov 15

The crypto market plunged by a massive $23.83 billion since yesterday to have a current capitalization of $185.98 billion. Trading volumes are also huge, jumping $11.89 billion to $24.72 billion.

Bitcoin Price Analysis: Nov 15

In the last 24 hours, the price of Bitcoin plunged more than 12%. Now, at the time of writing, the price of Bitcoin has recovered slightly, with the crypto’s losses at 10.76% or $5674.42. The crypto’s capitalization is now $98.60 billion and trading volumes are at $8.31 billion.

Ethereum Price Analysis: Nov 15

Ethereum’s price plunge has taken it to third place, losing out to XRP. The altcoin’s price is now $179.93, a massive 12.77% downward move. Market capitalization stands at $18.57 billion with trading volumes of $3.04 billion.

State of the Top 10 Cryptocurrencies: Nov 15

Prices in the cryptocurrency market have nosedived disastrously in the last 24 hours. USTD is the only crypto in the top ten list that is 0.01% in the green, since is a stablecoin. All the other cryptos have fallen massively, with only two showing single digit percentage drops in their prices. The other 7 cryptos in the top ten list have seen double-digit percentage drops in the prices.

  • Bitcoin’s price is $5674.42, nosediving 10.76%. Its capitalization is $98.60 billion.
  • Ripple’s price is $0.462183, nosediving 9.04%. Its capitalization is $18.61 billion.
  • Ethereum’s price is $179.93, nosediving 12.77%. Its capitalization is $18.57 billion.
  • Bitcoin Cash’s price is $444.69, nosediving 13.44%. Its capitalization is $7.76 billion.
  • Stellar’s price is $0.232769, nosediving 8.40%. Its capitalization is $4.40 billion.
  • EOS’s price is $4.60, nosediving 11.88%. Its capitalization is $4.16 billion.
  • Litecoin’s price is $43.16, nosediving 13.65%. Its capitalization is $2.55 billion.
  • Tether’s price is $0.982539, increasing 0.01%. Its capitalization is $1.67 billion.
  • Cardano’s price is $0.062529, nosediving 14.25%. Its capitalization is $1.62 billion.
  • Monero’s price is $89.79, nosediving 14.03%. Its capitalization is $1.48 billion.

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