Ripple Continues to Rebound, While Most Major Cryptocurrencies See Mild Wave of Red

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After seeing a small rebound yesterday, the largest cryptocurrency Bitcoin (BTC) is very slightly down over the past 24 hours. As of press time, Bitcoin is down less than 1 percent on the day and trading at $5,560. The major cryptocurrency has seen some volatility during the day, with its price declining to as low as $5,490, while its intraday high reached $,5,616.

According to Bloomberg's research arm Bloomberg Intelligence, the cryptocurrency market “drama” is “just starting,” with analysts predicting that Bitcoin’s price would take a further dip to as low as $1,500. Such a decline would mean a 70 percent drop from current market levels, while Bitcoin has already lost more than 60 percent of its value over the year.
Ripple, which overtook Ethereum (ETH) in terms of market share on Thursday, Nov. 15, continues to hold its place as the top altcoin, with a market cap of $19.9 billion, while Ethereum’s market cap amounts to about $18 billion as of press time.
. The coin is, however, still well below its price point of $0.52 before the market dip Nov. 14.