Bitcoin again fluctuates around USD 17,000

29. November 2020

The main crypt currency in the market, Bitcoin, fluctuates again around USD 17,000.

The digital currency, after its surprising and pronounced fall registered yesterday, is quoted for the moment of the writing of this note in USD 16.644. Registering this way a decreasing variation of -3% in the last 24 hours.

As can be seen in our online crypto tool. Bitcoin fluctuated again, registering a lot of volatility between November 26th and 27th. It capitalized on its lowest price of the day by falling to about USD 16,415 per unit yesterday. And, its highest value after reaching USD 17,418.

Although at the moment there is no clear trend on the evolution of prices for the last hours, analysts and enthusiasts expect that a possible support for the digital currency will be established in the coming days. This will be a base margin for projecting The News Spy prices in the future, together with its commercial evolution.

However, despite the fact that Bitcoin lost more than $2,000 from its peak. Those who invested in the main kryptonie in the last 30 days have had a profit margin of about 30%.
In addition to BTC, this is how the crypto currencies of the market reacted

While Bitcoin seems to be looking for stability after the volatility seen this November 27th. The main altcoins of the cryptomoney ecosystem react differently for the moment of editing:

Registering quite discrete gains with a maximum of 2% we have the cases of Ripple (XRP), Monero (XMR), NEM (XEM), and VeChain (VET). However, what stands out especially is what has been seen with Stellar (XLM), a currency that increased by more than 13% compared to yesterday.

For its part, with falls close to and/or above 2% are Ethereum (ETH), Bitcoin Cash (BCH), Chainlink (LINK), Litecoin (LTC), Bitcoin SV (BSV), EOS and Tezos (XTZ).
DeFi Fluctuation

On the other hand, there are currencies that have registered other types of fluctuations, as is the case of the following:

CVP, the ERC-20 token of the PowerPool project, is listed as the main winner of the day, capitalizing on 17.69% earnings according to CoinMarketCap. This is a recently created initiative that dates back to August of this year, which was trading at over USD 12 by the time it was launched. It is currently registering its highest trading volume through the DeFi Uniswap platform.

The two tokens that follow are SUSHI and YFI, with gains of over 19% and 4% respectively. It is pertinent to note that in the past the creator of Yearn.Finance, Andre Cronje, harshly criticized the creator of the rival DeFi protocol, chef Nomi. Assuring that this type of initiative only discredits the ecosystem after the events that have occurred.

In a few lines

The Canadian-based investment firm, Cypherpunk Holdings, has abandoned its holdings of two alternative crypt currencies and invested the profits in Bitcoin. In an announcement Thursday, the company said its holdings of Bitcoins have increased to 276,479 BTC from the balance of 72,979 BTC. Seen at the end of the second quarter, an increase of 279%.

BTC continues to convince some of its toughest traditional critics of conventional finance, while Bloomberg admits that this upward trend is nothing like 2017.

Wallets containing 1 BTC or more represent 95% of BTC’s market capitalization. Yet they represent only 0.47% of all Bitcoin wallets with funds.
After more than a year of scrutiny by global financial regulators, Libra will be launched as a digital currency backed by US dollars. This was reported by the Financial Times on November 27th.