Analysis Expert Blog News

Bitcoin’s and altcoins’ extreme growth turns to significant correction

Yesterday, 29th of November, Bitcoin, Ethereum and other cryptocurrencies including Dash established new price records. Bitcoin’s top price throughout the day reached almost $11500 when Ethereum stopped rally at $518 per one coin level. This insane growth made thinking people really worried about short-term perspectives of cryptocurrencies.

As we also predicted before in our previous articles, institutional  actors will probably fix their huge profits soon. The correction has started in the evening yesterday – Bitcoin and Ethereum prices lost 20%. Nevertheless, they have already done a step ahead. Bitcoin returned to $10000 level, Ethereum’s current price is $450.

Rally continues, but we have to admit that another wave of correction can hit cryptocurrencies soon.