Bitcoin, Ripple (XRP), And Ethereum Got Roasted Over Thanksgiving--Here's Why

Bitcoin, Ripple (XRP), And Ethereum Got Roasted Over Thanksgiving--Here's Why


Bitcoin fell sharply over the Thanksgiving weekend, dragging the wider cryptocurrency market down with it, including ripple (XRP) and ethereum's ether, as last week's huge sell-0ff surged back, destroying hopes the bitcoin market had found a floor.

The bitcoin price dropped to a low of $3,604 according to CoinDesk's bitcoin price tracker, before rebounding back over the psychological $4,000 mark. The bitcoin price is currently hovering around $4,000 on the Luxembourg-based Bitstamp exchange, as the volatility seen throughout November continues to cause chaos for traders, investors, and exchanges.

The bitcoin price is now off some 80% from highs of almost $20,000 late last year, while other major cryptocurrencies ripple (XRP) and ethereum are down by similar amounts. Bitcoin has lost some 40% of its value in just two weeks of November, the worst bitcoin price drop since April 2013.

The bitcoin price falls over the weekend do not appear to be linked to any particular fresh news but a continuation of the sell-off sparked earlier this month by the fork of the bitcoin cash cryptocurrency that ignited a civil war between the bitcoin rival's two factions. Read more





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