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Last week's weekend was not a quiet one. On Sunday, the market was expecting a new wave of decline, after which prices managed to recover slightly. Will the correction continue today?
In our review, we would like to take a closer look at the price movement of Bitcoin from its inception to the support levels that are now keeping the BTC price from falling to its 2018 low.
In today's review, as always, we summarize the results of the outgoing week and analyze the overall price dynamics
After months of sluggish price action, Bitcoin's value dropped significantly in November. For newcomers to the market, this is undoubtedly a shocking event, however, in fact, this is just a continuation of the cyclical rise and fall in the price of the world's first cryptocurrency. The value of Bitcoin will rise again as usual. The only question is what will serve as a catalyst for an increase in the price of a digital asset?
The Globee platform is an international payment service that conducts instant transactions on the Bitcoin network via the Lightning Network. Until yesterday, the GloBee crypto-processing service supported payments for Bitcoin Cash, along with Ethereum, XRP, Monero, Litecoin, Dogecoin and Decred.
The intense decline slowed down slightly towards the end of this week. Market activity is expected to be low this weekend. Pairs will continue to consolidate near key support levels
The total market capitalization of the cryptocurrency market has fallen 80% from $819 billion in January 2018 to $138 billion today. By comparison, McDonald's current market capitalization is $140 billion.
This decision was made against the background of the declining price of Bitcoin, due to which mining companies are forced to close due to lack of profit. According to a report, the Norwegian government has announced that the country's cryptocurrency miners will pay the usual electricity tax starting in the New Year.
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