Bitcoin’s price decline from yesterday continues to this day and shows no sign of stopping. According to CoinDesk data, over the past 24 hours, the Bitcoin price has fluctuated wildly. Bitcoin price peaked at $68,990.90, the lowest at $63,036.18. Thus, within just one day, the Bitcoin price dropped by nearly $6,000.
However, the Bitcoin price is showing signs of inching up. At 7:59 am today (November 11, Vietnam time), Bitcoin price was trading at 64,991.68 USD, down 3% compared to yesterday.
According to CoinGecko data, Bitcoin trading volume in the last 24 hours is more than 49 billion USD, the capitalization of the Bitcoin market in the early hours of this morning recorded at nearly 1,230 billion USD.
Bitcoin price continues to plunge without brake
Bitcoin price has advanced to more than 68,000 USD/dong at noon on 9/11. In the past 24 hours, Bitcoin price at one point even climbed to $68,990.90. However, after that, Bitcoin faked the price without braking.
According to analysts, Bitcoin’s turn to the downside is just a healthy correction before moving higher. Popular analyst Crypto Ed said that the Bitcoin price may fall deeper than anticipated before hitting the $70,000 mark.
Another reason why the Bitcoin price has turned down is because investors are taking profits. Investors often tend to sell off Bitcoin after the price of this cryptocurrency hits a new high to take profits.
This morning, other major cryptocurrencies also fell sharply in line with Bitcoin’s momentum. In which, Ethereum is down 2.49% from the previous 24 hours, at $4,612; XRP down 4.11%, priced at $1.19; Cardano is down 7.52%, price is $2.09; Polkadot is down 8.61%, at $46.29; Stellar is down 6.5%, price is $0.382; Dogecoin fell 6.28%, priced at $0.258; Internet Computer reduced 9.02%, priced at 47.31 USD; Polygon down 6.03%, price is 1.7 USD; Bitcoin Cash down 5.55%, priced at $664.46…
Due to Bitcoin and many cryptocurrencies plummeting in price, the total capitalization of the cryptocurrency market has plummeted, losing the $3 trillion mark. According to CoinGecko, the total capitalization of the cryptocurrency market this morning reached more than $2,956 billion, down 3.3% from yesterday.