Crypto market update:crash is the second longest run in history, with fresh wave of sellers penetrating the market
|- New selling comes back to the market on Thursday, with critical levels being penetrated.
- Bitcoin has been falling for going on 347 days now, falling from Dec 2017, at the heights of $19K plus.
A sea of red is seen across the board today, following a fresh wave of sellers coming in. Most cryptocurrencies had started the session firmly, trading in positive territory. However, into afternoon trading, the market came under renewed selling pressure.
Bitcoin hit session lows at $3595, Ethereum breached the big psychological $100 mark. Elsewhere, XRP traded as low as the mid $0.32 region and Litecoin trading into $27 territory. Several of the larger cap tokens were testing recent bottom areas, some can see technical double bottom formations.
It does not look as though the market is going to see the so called ‘Santa’ rally this year. This up there with one of the biggest crypto crashes in history for Bitcoin. Dropping around 82% over 347 days now from Dec 2017 to Nov 2018.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.