At 8 o’clock on November 27th, the price of bitcoin fell below 3,800 US dollars, and the virtual currency market was full of red. 

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Specifically, as of press time, Bitcoin fell 6.48% in 24 hours to close at $3,790. After returning to $4,000 on November 26, it fell below $3,800 again . In week, Bitcoin fell 22% this week, almost the price of $6,300 at the beginning of this month.

The second largest virtual currency XRP fell 6.53% in 24 hours, to close at 0.35 US dollars, on a weekly basis, XRP still fell more than 27%.

As for the (the second largest virtual currency), the third largest virtual currency ETH (Ethereum) fell 7.49%, to close at 108 dollars, compared with the beginning of the month, the price is almost waist-high.

Most of the top 20 virtual currencies have seen a decline of about 5-10%. The total market value of virtual currency is about 123.7 billion US dollars, which is 5.8 billion US dollars lower than yesterday’s 129.5 billion US dollars.

Recently, the bitcoin and cryptocurrency markets suffered consecutive losses. On November 14, Bitcoin fell 11%, and the price fell to 5,500 US dollars. On November 20, Bitcoin fell more than 17% within 24 hours, and the price once fell. At $4,300, the price fell below the cost of mining machines, and small and medium-sized miners were on the brink of collapse. On November 25th, Bitcoin fell 14% again, falling below $3,700.

Zorain Zubair
Zorain is co-founder of TechLapse. Based in Pakistan, Zorain is currently studying Business Management and aims to achieve the title of Chartered Accountant. Zorain loves writing about various technology news. He can be reached at: [email protected]
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