Monday Market Watch: Stagnation is the Word
Last Modified: November 16th, 2021
As opposed to the market frenzy we witnessed during the start of last week, all the major cryptocurrencies have been quiet today, posting minor declines across the industry. We will take a look at the price movements over the last 24 hours for the most traded coins, and try to anticipate what’s to come later this week.
BTC: 63,988.30 (-2.33% last 24h)
Instead of making a push for the desired 70k mark that all bullish investors want to see, BTC has stagnated in its market cap growth and dropped down to just below $64,000. Looking forward, it seems like pure market speculation and positive sentiment would not be enough to push BTC past the $70,000 ceiling, and would require major economic news that provide investors with even more incentives to purchase BTC as a part of their portfolio.
BTC price chart over last 24 hours (15 min intervals)
ETH: $4,580.05 (-0.99% last 24h)
Ethereum’s prices have followed behind the footsteps of BTC, failing to challenge the $5,000 price level and instead dropping to just below $4,600. As opposed to BTC, however, ETH has clear ways of scaling beyond its current capabilities, and thus ETH should continue to push for the $5,000 mark before the end of this year.
ETH price chart over last 24 hours (15 min intervals)
LTC: $264.5 (-5.29% last 24h)
Captured in yesterday’s article, a slowdown in LTC’s rally this week was expected, and it reflected in the price changes today, down over 5% in the last 24 hours, by far the biggest drop out of the cryptocurrencies in the top 20 market capitalization.
LTC price chart over last 24 hours (15 min intervals)
Price movements for other instruments trading on BTCC over the last 24 hours:
ADA: $2.024588 (-0.69%)
BCH: $668.89 (-1.51%)
DASH: $225.801 (-1.38%)
DOGE: $0.25792 (-1.88%)
DOT: $45.102 (-2.87%)
EOS: $4.837 (-2.71%)
LINK: $32.184 (-4.65%)