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Last time this year, the whole cryptocurrency market was rejoicing as all the cryptocurrencies were touching new highs. However, this November seems to be aiming at crushing the investors as all the coins have decided to drown in the red pond.
Bitcoin [BTC], the biggest cryptocurrency in the market, often hailed as the king of cryptocurrencies is being crushed by the bear’s grip. The coin which was showing a sideways movement for the longest time has fallen below $6000.
According to CoinMarketCap, at press time, Bitcoin is trading at $5877.75 with a market cap of $102 billion. The coin has a trade volume of over $5 billion and has plummeted by 5.49% in the past one-hour. Additionally, the total market cap of the cryptocurrency has also fallen to $189 billion.
Along with Bitcoin [BTC], all other cryptocurrencies are also currently suffocating in the bear’s reign. Ethereum [ETH], the second-largest cryptocurrency by market cap, is currently trading at $184.69 and has fallen by $5.16 and XRP, the third-largest cryptocurrency, is trading at $0.44 and has fallen by 6.01%. Other coins which has taken a hard hit by the bear includes Litecoin [LTC], which is down by 9.72%; Monero [XMR], which is down by 10.62% and Bitcoin Cash [BCH], which is down by 8.90%.
Nonetheless, some investors are still on the bright side of the market, as the coins are finally showing some action and they believe that this is a great time to buy.