Slight Recovery: BTC Holds Around $4,600
After a prolonged fall, which wiped out $70 billion in cryptocurrencies capitalization, the market showed weak signs of recovery. BTC managed to harden at $6,500.
On November 14, massive crypto assets sell-off began on the market. In less than a week, cryptocurrency capitalization decreased from $210 billion to nearly $ 150 billion, according to Coinmarketcap. By November 20, Bitcoin price dropped to $4,272.
After that, the market began showing weak signs of recovery. Over the past 24 hours, the price of BTC has increased by 1.15% and at the time of publication reached $4,561. The price of other top cryptocurrencies also saw a green zone. Ripple rose by 0.91% to $0.443034. Ethereum jumped by 2.04% to $135.
But Bitcoin Cash, which recently experienced hard fork, continues free fall. According to Coinmarketcap, during the last day, its price decreased by 0.66% and reached $232.
Experts are divided on market prospects. Bloomberg analysts are confident there will be another fall, and BTC could drop to $1,500. But there are some positive forecasts. For example, Tom Lee, co-founder of Fundstrat Global Advisors, believes that by the end of the year Bitcoin will rise to $15,000.