3 min of reading
Major currencies were mostly unchanged at the end of the weekend, and the global cryptocurrency market capitalization saw a slight decline in 24 hours to settle at $ 2.18 trillion as of press time Sunday. night.
What has happened
Bitcoin (CRYPTO: BTC) was trading 0.49% lower at $ 46,538.64 after a 24-hour tracking period. Over the week, the apex coin is down 6.65%.
The second largest coin by market capitalization, Ethereum (CRYPTO: ETH) fell 0.79% to $ 3,918.13 after a 24-hour tracking period. Over the course of seven days, Ethereum is down 4.45%.
Dogecoin (CRYPTO: DOGE) was down 2% to $ 0.17 over 24 hours. During the last seven days, the currency meme it is down 0.37%.
DOGE’s rival cryptocurrency Shiba Inu lost 3.04% to settle at $ 0.00003055 over a 24-hour period. In seven days, it has plummeted 16.12%.
The three most benefited coins in 24 hours, according to CoinMarketCap data, were Decred, Harmony and Arweave.
Decred soared 24.84% to $ 83.24, Harmony gained 18.7% to $ 0.2478 and Arweave was up 12.75% to $ 58.84 over the period.
Because it is important
The traders of cryptomoneys Lark Davis tweeted on Sunday that the crypto market “is going to start behaving like tech stocks.”
The #crypto market is going to start behaving like tech stocks.
Lots of early volatility, then we start to see basically up only (with turbulence) as the user bases continue to grow. For reference Amazon hasn’t seen any drawdowns over 40% since 2011!!!!
Crypto is maturing pic.twitter.com/I5GAnqTwgg
— Lark Davis (@TheCryptoLark) December 19, 2021
Davis gave as an example the actions of Amazon.com, Inc (NASDAQ: AMZN), which claimed they haven’t dropped more than 40% since 2011.
Still, short-term technical data is not good news for the holiday season, according to Delphi Digital.
“Sentiment is dire, momentum is weak, and all the buzz about inflation and political uncertainty makes us yearn for optimism wherever we can find it,” the independent research boutique wrote in an emailed note.
An example of political uncertainty came on Friday when the governor of the Central Bank of Russia, Elvira Nabiullina, suggested that the country could ban Bitcoin and other cryptocurrencies, pointing to significant risks to retail investors and inherent volatility.
As for momentum, at the beginning of the weekend, the traders “They doubted whether to buy the fall”, according to Edward Moya, Senior Market Analyst at OANDA.
“Many traders they are opting for other currencies such as Avalanche, Solana, Polkadot and Hedera. If the focus is primarily on the altcoins early next year it could take a long time for Bitcoin to return to record territory, ”Moya said, in a note to which Benzinga has had access.
On the other hand, the BTC held long-term or lost has reached a maximum in the last 11 months and represents 34.45% of the supply of the apex currency, according to the journalist. Colin Wu.
According to glassnode, the number of long-term held or lost BTC reached a high point in the past 11 months, accounting for approximately 34.45% of the total BTC supply. pic.twitter.com/bFltewN1AB
– Wu Blockchain (@WuBlockchain) December 19, 2021
We would like to give thanks to the writer of this write-up for this outstanding content
Bitcoin, Ethereum and Dogecoin open the Christmas week lower | Benzinga Spain