Market Update 11.24.18 – Moro Says Bitcoin May Bottom at $3k
Market News
Moro Says Bitcoin May Bottom at $3k
The Chief Executive Officer of the two crypto trading companies, Genesis Trading and Genesis Capital, Michael Moro has predicted that the price of Bitcoin could drop as low as $3000.
In an interview on CNN’s Squawk Box, Moro said that the world’s number one crypto would lose another 30% before it bottomed out at $3,000. With regard to resistance levels, Moro said that it did not seem likely that Bitcoin would be able to stabilize at $3,500. He also said that the $4k level had already been tested two times in the last few days.
Read more about this interview here.
Coinbase’s Chief Policy Officer Joining VC Firm
Coinbase, the US’s largest cryptocurrency exchange, is set to lose another senior executive, according to media reports. Mike Lempres, the exchange’s chief policy officer is reported to be leaving to join the venture capital major Andreessen Horowitz.
Coinbase wished the departing executive well in his position and thanked him for his work with the exchange. It announced that during a time of tremendous growth in the company, Lempres was instrumental in building their legal and compliance functions.
Read about this story here.
Ledger Resumes Wallet Services for BCH
According to an announcement published by Ledger, the cryptocurrency hardware wallet services provider, they have resumed their Bitcoin Cash (BCH) wallet services. Services that had been restarted include adding accounts and sending tokens through their network.
Ledger had suspended its wallet services for BCH on November 14 in anticipation of the expected hard fork of the coin’s network on November 15. The company stated that it had done so to prevent any unwanted transactions and possible replay attacks. During that time, users were not able to send BCH using the wallet’s infrastructure.
Find out more about the story here.
Total Market Cap: Nov 24
Trading volumes remain low over this holiday weekend at $13.73 billion and the cryptocurrency’s market capitalization is now $141.28 billion.
Bitcoin Price Analysis: Nov 24
The price of Bitcoin is currently trading up by 2.34% at $4368.79 per token. The capitalization of BTC is now $75.97 and trading volumes are at $4.48 billion.
Ethereum Price Analysis: Nov 24
Ethereum also showed slight signs of recovery, with its token price going up by 1.60% to trade at $125.50. The number two altcoin’s trading volumes are at $1.82 billion and its capitalization in the market is $12.97 billion.
State of the Top 10 Cryptocurrencies: Nov 24
The top ten cryptocurrencies are showing greener today as compared to yesterday, as nine out of the ten are recovering. Tether is currently trading down by 0.72%, the only cryptocurrency in the top ten list to be in the red. The biggest gainers in trading so far today are Monero, which is up by 5.17%, Litecoin, which is up by 3.57% and Bitcoin, which is showing gains of 2.34%.
- Bitcoin’s trading price is at $4368.79, gaining 2.34%. The value of the digital asset is $75.97 billion.
- Ripple’s trading price is at $0.411616, gaining 0.88%. The value of the digital asset is $16.59 billion.
- Ethereum’s trading price is at $125.50, gaining 1.60%. The value of the digital asset is $12.97 billion.
- Bitcoin Cash’s trading price is at $210.20, gaining 4.21%. The value of the digital asset is $3.67 billion.
- Stellar’s trading price is at $0.182615, gaining 0.97%. The value of the digital asset is $3.49 billion.
- EOS’s trading price is at $3.62, gaining 2.14%. The value of the digital asset is $3.28 billion.
- Litecoin’s trading price is at $32.68, gaining 3.57%. The value of the digital asset is $1.93 billion.
- Tether’s trading price is at $0.981852, losing 0.72%. The value of the digital asset is $1.77 billion.
- Cardano’s trading price is at $0.043552, gaining 2.31%. The value of the digital asset is $1.12 billion.
- Monero’s trading price is at $67.02, gaining 5.17%. The value of the digital asset is $1.11 billion.