These altcoins correct the most violently

The exact causes for the sharp correction on the crypto market on the night of Monday, November 15, to Tuesday, November 16, have not yet been clarified. The biggest losers, however, have been determined.

Although the crypto market has not only seen price drops in the double-digit percentage range since this morning, the past few weeks have been shaped by the opposite. Green numbers, new all-time highs and gigantic financing rounds for the companies and start-ups in the crypto space were the order of the day. On the night of today’s Tuesday, November 16, however, such a correction took place, which not only pushed Bitcoin below the US $ 60,000 mark with a price drop of 10.26 percent at the time of going to press, but also pushed the entire Altcoin- Sector dragged with it.

A look at the portal Coin360 provides a good impression of the current market sentiment (11:18 a.m.):

However, if you compare the rate of the crypto currency with that of many Altcoins, Bitcoin got off quite lightly. Ethereum (ETH) collapses by around 12.22 percent, while Cardano (ADA) lose 13 percent and Ripple (XRP) and Dogecoin (DOGE) lose over 12 percent. Polkadot (DOT) meanwhile surrenders almost 16 percent of its course from the previous day and Solana (SOL), like BTC, gets off quite lightly with less than 10 percent.

You can find out who the biggest losers from the sharp correction on the crypto market are in the following slideshow:

These 5 altcoins correct the most violently

Although the causes for the corrections of Bitcoin, Ethereum and Co. are not fully clarified, liquidated leverage positions are a possible reason.

The infrastructure law recently passed by the US government under President Joe Biden also serves as an explanation for many people. Because the US $ 1.2 trillion package includes, among other things, stricter regulation of activities in the crypto market. Accordingly, in the future, all transactions that exceed a value of 10,000 US dollars must be reported to the US tax authority Internal Revenue Service (IRS), among other things Bloomberg reported. It is uncertain whether crypto investors have now used this as an opportunity to sell.

Source link

Leave a Comment