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Bitcoin drops 7% in 24 hours

After reaching its historical price, will it be gaining strength by going down in this way?

5 min read
Bitcoin drops 7% in 24 hours – Business – WebMediums
Cryptocurrencies play a roller coaster ride

The immediate fluctuation or volatility is not a characteristic that is not known of the creative bitcoin currency, but it does affect us from time to time — not to say always — too much.

Because it disorganizes our virtual currency finances and our emotional stability, with those blows that make us sit on the shore with great concern.

As in many articles we have commented, when bitcoin rises or falls, the other cryptocurrencies will follow their destiny.

Therefore, when we invest in any cryptocurrency, we must be very aware of the activities and the "state of mind" of bitcoin.

Do not forget! Because this could bring you a lot of luck in investing in virtual currencies.

Bitcoin drops 7% in 24 hours – Business – WebMediums
BTC and its great influence on the market

The volatility of market capitalization

On November 9, the historical rise of bitcoin occurred, as we provide in this article that you cannot miss: Bitcoin reaches its historical maximum and there are some predictions for this currency.

The truth is that a drop of this magnitude was not expected, which occurred practically nothing ago, since we were sure, according to analysts' information, that bitcoin would have a much more juicy price rise in the following days.

In such a way, that investors or fans of cryptocurrencies would have a lot to celebrate, but now there is a thorn of doubt that intrigues us to immediately find an answer as to why bitcoin has fallen more than 6%.

In other words, from its previous price, which was almost reaching a new record of USD 60,896, it continues to fluctuate unstoppably.

In writing this article, the percentage in the title has been changed about five times or maybe more.

Bitcoin drops 7% in 24 hours – Business – WebMediums
How quickly the coin plummets

Minutes and even seconds count in cryptocurrencies

On November 17, bitcoin was at the aforementioned price of almost $61,000, where it then fell very late at night to a perfect $60,200, which we can still see in green on the CoinMarketCap price chart.

On November 18, the cryptocurrency began its fall at noon, to culminate at 4.50% at the beginning of one in the afternoon.

Specifically at 01:09 in the afternoon, and it kept rising in drops, then also falling, entering a vicious circle.

Which leaves us with the incredible notion that even the seconds are important for cryptocurrencies and that we have not tried everything that their volatility can be.

Bitcoin drops 7% in 24 hours – Business – WebMediums
Graphic representation of the queen coin

Could this be a boost?

Most believe that it is exactly that, a force take for the cryptocurrency to reach the value predicted by anonymous analysts such as PlanB, which announced a price increase of USD 98,000 to close with the month of November.

What many also believe is false, but volatility has shown us that it is possible. It is not necessary to give examples, since this article is an excellent forceful argument to defend that ideal.

Two weeks go fast, but with the seconds, bitcoin can play without problem regarding its price.

This also gives us a bit of faith in believing that the price of bitcoin for the end of the year was already trading at $100,000.

Bitcoin drops 7% in 24 hours – Business – WebMediums
The great impact that whales have on the market

Whales: determining factors for the rocket mode to be activated

We know that this is not the most dramatic drop that has occurred, compared to the time earlier this year that Elon Musk changed his mind on bitcoin.

That fell 8% in total nosedive, but we know the end of this story.

Bitcoin recovers almost as fast as it does when it rises, but this also comes for a strong reason.

If the currency is low, the sentence "It is a good time to buy" arises, and this does not generate a great impact if only one person places $20 of investment in bitcoins.

But if several people or one person buy 200 bitcoins, of course something would happen in the numbers.

For this reason, in the world of cryptocurrencies, you also have to be aware of the so-called whales that buy left and right at the right time to manipulate the market in an exorbitant way.

Bitcoin drops 7% in 24 hours – Business – WebMediums
Cryptocurrencies that have also fallen

Other cryptocurrencies that have been affected

We will start with the numbers provided by the Binance Smart Chain graphs of the losses of all cryptocurrencies with great impact on the market, indicated at night on November 18.

Bitcoin (BTC), had a total record of 7.28%. For their part, the other cryptocurrencies that follow had at that time a percentage of decrease added in the list below:

—Ethereum (ETH): -6.27% — Polkadot (DOT): -8.78% — Dogecoin (DOGE): -7.65% — Solana (SOL): -11.05% — Cardano (ADA): -6.18% — Shiba Inu (SHIB): -12.03%

You would think that the price mood of absolutely all cryptocurrencies is in the red, but there are some that are saved, and on top of that, going up.

The Decentraland coin (MANA) was climbing very strongly, and has registered a rise of + 25.66%. Another that has also registered a very large rise is The Sandbox (SAND) with + 15.23%.

Bitcoin today is registered with a price of USD 57,600 rising, after being at a minimum price of USD 56,870.

Despite the unusualness of the situation, rumors of this fact have not yet been heard, perhaps in the next few hours more news and explanations about what happened will be recorded.

But the reality is that everyone is waiting for that big rise in cryptocurrencies.