Among the few coins that report some green at the time of this writing, Unus Sed Leo (LEO) is seeing the biggest growth, up 0.4%. In contrast, Algorand (ALGO), is seeing the biggest losses among the top 20, down more than 6% according to data from Coin360.
Market visualization. Source: Coin360
After failing to hold the $7,500 support yesterday, Bitcoin saw a sharp drop below the $7,200 price point earlier on the day before another recovery attempt. At press time, Bitcoin is trading at $7,383, down 1.4% over the past 24 hours, with an intraday low of $7,179, according to Coin360.
Bitcoin’s price dynamics look worse over the past week as the cryptocurrency lost 2.7% over a seven day period to date. Over a 30-day perspective, the trend is even worse, as Bitcoin has slipped more than 20% from around $9,346 on Nov. 5.
“Bitcoin pump & dumpers are losing their mojo. They managed to pump the price by $550 in one minute, a 7.5% spike. Yet the dump reversed the entire pump with an 8% drop in just 7.5 hours. If #Bitcoin pumpers can no longer sucker in new buyers the game is over. Look out below!”
Meanwhile, Bloomberg analysts have recently predicted that Bitcoin will see $6,500 as good support and $10,000 as initial resistance in 2020. The experts added that most of their indicators demonstrate that dipping below $6,500 is unlikely.
Bitcoin 24-hour price chart. Source: Coin360
Ether seven-day price chart. Source: Coin360
XRP, the third top cryptocurrency by market cap, slipped by 0.1%, trading at $0.219.
Total market capitalization of all cryptos amounts to $200 billion at press time.