The cryptocurrency market digest (BTC). Overview for 23.11.2022

November 23, 2022

By RoboForex.com

The BTC is recovering and looking good: the leading cryptocurrency has returned to 16,582 USD upon falling below it. However, the whole situation is troublesome.

We may suppose that the current pullback is purely technical because fundamentally speaking, the market is stressed.

Genesis keeps fighting for its life. The company has hired counselors to work out all the ways of remaining afloat. Bankruptcy is also being discussed. Moreover, experts are looking for creditors that could help deposit the company’s balance for 500 million and up to 1 billion USD.

Market players are clearly seeing the risks that have impacted other players of the sector as well. Asset withdrawal from any platform may be rough and merciless. And no one seems insured from this.

On Wednesday, capitalisation of the crypto market is 823.61 billion USD: it has restored from the bottom hit yesterday. The BTC takes up 38.7%, the ETH – 17.3%.


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Article By RoboForex.com

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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.