{"id":35438,"date":"2022-11-17T22:51:25","date_gmt":"2022-11-17T22:51:25","guid":{"rendered":"http:\/\/egrowonline.com\/?p=35438"},"modified":"2022-11-17T22:51:25","modified_gmt":"2022-11-17T22:51:25","slug":"bitcoin-ethereum-dogecoin-weak-as-ftx-fallout-fears-deepen-but-this-trader-sees-giant-opportunity-to-stash-crypto-bitcoin-btc-usd-ethereum-eth-usd-dogecoin-doge-usd","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=35438","title":{"rendered":"Bitcoin, Ethereum, Dogecoin Weak As FTX Fallout Fears Deepen \u2014 But This Trader Sees ‘Giant Opportunity’ To Stash Crypto – Bitcoin (BTC\/USD), Ethereum (ETH\/USD), Dogecoin (DOGE\/USD)"},"content":{"rendered":"


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Bitcoin<\/strong> and Ethereum<\/strong> were in the red on Wednesday evening as the global cryptocurrency<\/a> market cap dropped 1% to $835.4 billion at 8:18 p.m. EST.<\/p>\n

\u200b\u200b<\/p>\n

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Price Performance Of Major Coins<\/caption>\n
Coin<\/th>\n24-hour<\/th>\n7-day<\/th>\nPrice<\/th>\n<\/tr>\n<\/thead>\n
Bitcoin<\/strong> BTC\/USD<\/span><\/td>\n-0.5%<\/td>\n2.4%<\/td>\n$16,722.85<\/td>\n<\/tr>\n
Ethereum<\/strong> ETH\/USD<\/span><\/td>\n-2.45%<\/td>\n6.75%<\/td>\n$1,224.51<\/td>\n<\/tr>\n
Dogecoin<\/strong> DOGE\/USD<\/span><\/td>\n-0.1%<\/td>\n11.7%<\/td>\n$0.09<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/figure>\n
\n\n\n\n\n\n\n\n
Top 24-Hour Gainers (Data via CoinMarketCap)<\/caption>\n
Cryptocurrency<\/th>\n24-Hour % Change (+\/-)<\/th>\nPrice<\/th>\n<\/tr>\n<\/thead>\n
Trust Wallet Token<\/strong> (TWT)<\/td>\n+4.25%<\/td>\n$2.10<\/td>\n<\/tr>\n
Aptos<\/strong> (APT)<\/td>\n2.9%<\/td>\n$4.52<\/td>\n<\/tr>\n
Decred<\/strong> (DCR)<\/td>\n+4.8%<\/td>\n\u200b\u200b$20.43<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/figure>\n

See Also: <\/em>Five Best Robinhood Crypto Alternatives\u00a0<\/em><\/a><\/p>\n

What Happened: <\/strong>Major coins were seen trading lower at the time of writing, on a day when risk assets, such as stocks, ended in negative territory.\u00a0<\/p>\n

The S&P 500 and Nasdaq finished Wednesday 0.8% and 1.5% lower, respectively. The tech-heavy Nasdaq was weighed down by subdued earnings numbers.<\/p>\n

Meanwhile, cryptocurrencies are still grappling with the FTX<\/strong> and Alameda<\/strong> shock<\/a> that has led to a domino effect.<\/p>\n

On Wednesday, the lending arm of Genesis Global Trading<\/strong> said it was temporarily stopping accepting redemptions<\/a> and giving new loans. It has $2.8 billion in total active loans at the end of the third quarter of 2022.\u00a0<\/p>\n

“FTX contagion remains the primary focus for the cryptoverse,” noted Edward Moya<\/strong>, a senior market analyst with OANDA.<\/p>\n

“Bitcoin and Ethereum are lower on the day as contagion fears remain elevated and as the broader markets are dragged down after a round of hawkish Fed speak and mixed signals about the U.S. consumer,” said Moya, in a note, seen by Benzinga.<\/p>\n

Santiment tweeted that while there have been discussions about a scenario involving traders fleeing exchanges “en masse” following the collapse of FTX and the Gemini withdrawal halt.<\/a><\/p>\n

“Top assets are still circulating at a normal rate, indicating these fears may be overblown,” said the market intelligence platform.<\/p>\n

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CryptoQuant analyst JA Maartunn<\/strong> said in a note that in the current year, 24% of Bitcoin is trading below the realized price. The analyst said that the realized price is the average purchase price of all Bitcoin.<\/p>\n

“Dips below the average price are decreasing,” said Maartunn. According to the analyst, 60% of Bitcoin in 2012 traded below the realized price, while in 2015 and 2019 these figures were 41% and 30% respectively.\u00a0<\/p>\n

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Cryptocurrency trader Micha\u00ebl van de Poppe <\/strong>said on the current scenario prevalent in the markets. “It feels odd to say, but it\u2019s such a giant opportunity to be able to accumulate [crypto] at these levels.”<\/p>\n

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It feels odd to say, but it’s such a giant opportunity to be able to accumulate #crypto<\/a> at these levels.<\/p>\n

\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) November 16, 2022<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n

Read Next: <\/em>Sam Bankman-Fried Lobbied Key Regulator To Let Retail Investors Borrow Money To Trade Crypto Derivates, Says CFTC Chair<\/em><\/a><\/p>\n<\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin and Ethereum were in the red on Wednesday evening as the global cryptocurrency market cap dropped 1% to $835.4 billion at 8:18 p.m. EST. \u200b\u200b Price Performance Of Major Coins Coin 24-hour 7-day Price Bitcoin BTC\/USD -0.5% 2.4% $16,722.85 Ethereum ETH\/USD -2.45% 6.75% $1,224.51 Dogecoin DOGE\/USD -0.1% 11.7% $0.09 Top 24-Hour Gainers (Data via […]<\/p>\n","protected":false},"author":1,"featured_media":35439,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[46],"tags":[50,6612,62,12389,85,4961,158,2693,10426,2993,2258,127,99,1709,4471,193,2606],"class_list":["post-35438","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-bitcoin","tag-btcusd","tag-crypto","tag-deepen","tag-dogecoin","tag-dogeusd","tag-ethereum","tag-ethusd","tag-fallout","tag-fears","tag-ftx","tag-giant","tag-opportunity","tag-sees","tag-stash","tag-trader","tag-weak"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/11\/Bitcoin_crash._Photo_by_Hi_my_name_is_Jacco_on_Shutterstock_0.jpeg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/35438","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=35438"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/35438\/revisions"}],"predecessor-version":[{"id":35440,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/35438\/revisions\/35440"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/35439"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=35438"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=35438"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=35438"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}