Today, the price of Bitcoin plummeted by 12%. The market’s leading crypto-currency is trading below USD 17,000.

The crypto market is in the red. The crypto market is in the red. When the leading crypt currency by market value fell from over USD 19,300 to USD 16,320.

Thus registering a drop of -12.39% in the last 24 hours. According to our internal online crypto tool, the price is quoted at USD 16,700.

This drop in the price of Bitcoin Pro comes just when the digital currency was close to reaching new all-time highs. That would exceed what was seen at the end of 2017.

Although this generated surprise among enthusiasts and investors. Analysts point out that this was to be expected given the route that Bitcoin took to reach USD 19,000 in the last few days.

They described this fall as a correction of the market in the face of what seemed to be a sustained rise. This is precisely because of the departure of certain investors who are looking to secure their profits in the short and/or medium term.
Main altcoins also registered, as well as Bitcoin, a fall on November 26th

The fact that the price of Bitcoin plummeted this Thursday It also led to a sort of domino effect among the main altcoins of the ecosystem. These are also going down this November 26th with quite remarkable percentage reductions.

Among the main altcoins with falls above two digits we have the cases of Ethereum (ETH) -15.99%, XRP -29.32%, Bitcoin Cash (BCH) -23.91%. And many more like Chainlink (LINK), Litecoin (LTC), Cardano (ADA), Polkadot (DOT), Binance Coin (BNB), Stellar (XLM), Bitcoin SV (BSV), EOS, TRON (TRX), Monero (XMR), among others.

Bitcoin rates are still low despite the price increase, but Vitalik says it’s only a matter of time

Despite the sudden increase in Bitcoin to re-test its 2017 highs. A combination of low chain transactions and reduced retail speculation has kept transaction fees low.

Ethereum (ETH) co-founder Vitalik Buterin doesn’t think Bitcoin’s current low rates will last. In a Twitter thread, the co-founder of Ethereum suggested that an inevitable increase in transaction fees will drive out most users:

I would say it’s more like „why do Bitcoin’s unique features matter given that any wide adoption scenario will lead to base chain fees pricing out most of those users and it’s proving hard to extend those features to the L2s intended to circumvent those limitations?
– vitalik.eth (@VitalikButerin) November 25, 2020

„Why are Bitcoin’s unique features important given that any scenario of wide adoption will lead to base chain rates discounting most of those users and it’s proving difficult to extend those features to L2s intended to circumvent those limitations,“ Vitalik Buterin said in a tweet.

However, the data do not suggest that high rates are likely in the current environment. To understand what is happening in the background It is important to look at the number of transactions that are processed, the value of these transactions, and the amount of BTC that is retained over the long term.

In short…

Coinbase is experiencing another disruption of its website and mobile applications, a re-emergence of a problem that seems to plague the leading crypto currency exchange every time the price and volume of Bitcoin increases.
After suspending all user withdrawals for five weeks, the OKEx kryptonie exchange resumed its services at 8:00 am UTC on November 26.
Teams representing the mathematics and science departments of the universities of Cambridge and Oxford are competing to design cryptocommerce algorithms.

 

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