Friday 15th. November – Crypto markets mostly show red candlesticks, while Bitcoin (BTC) fails to impress when it creeps below the $ 8,500 price point.
Daily overview of the Cryptocurrency market. Source: Coin360
For most of the day, the world's largest cryptocurrency has traded in a tight range between $ 8,700 and $ 8,600, while suddenly fluctuating below the $ 8,500 price tag in recent hours. Bitcoin is currently trading at a price of $ 8,480, showing a loss of 1
Bitcoin daily price table. Source: Coin360
Despite Bitcoin's continuing struggle to reach a higher peak, Tom Lee, recognized Bitcoin bull, co-founder and Wall Street strategist at Fundstrat Global Advisors, said he believes Fundstrat's $ 25,000 by 2022 forecast for Bitcoin is still "pretty easy to achieve. It's actually a logging feature – so if you double the users with it, you get a quadruple value. To go to $ 25,000 you basically need a little less than 4x increase, which means you need to double the number of people who have Bitcoin. "
Ether (ETH) currently sits at $ 180 a coin. The first altcoin has traded in perfect sync with BTC, showing downward price behavior leading to its current trading position, thanks to a nearly 3% loss per day.
Ether 7 day price table. Source: Coin360
XRP, the third largest coin by market value, is no exception to today's trend with red candlesticks and has consistently lost ground in recent days. The token is at around $ 0.261 per coin, down 3.20% on the day at press time.
According to regular Cointelegraph contributor Rakesh Upadhyay, the XRP award is in danger of falling to the next $ 0.24508 support. Upadhyay said if this support holds, altcoin will remain in the range of $ 0.24508 to $ 0.31491 for a few more days. However, if the support breaks down, it's probably a fall to $ 0.22.
XRP 7-day price chart. Source: Coin360
It's a red day for the top 20
Most of the top 20 coins show red candlesticks, with Tezos (XTZ) taking the title as the biggest loser, showing a loss of more than 5% on day. Monero (XMR) closely follows a similar loss on the day, trading at $ 62.5 per coin.
The only exception is Cardano (ADA), the 12th largest cryptocurrency by market capital, up 2.5% over the past 24 hours.
The total cryptocurrency market share is currently around $ 232.7 billion, and Bitcoin accounts for 65.9% of the total.