Bitcoin, Ethereum, Tron and Litecoin Daily Price Analysis – December 16 Roundup
The global crypto market has witnessed a negative change in performance. The latest data for Bitcoin, Ethereum and others shows that there has been no positive change. Instead, they have continued to see a recession, which has lowered their value considerably. The market has faced a significant change in performance in recent days as the bullish trend has been replaced by the bearish one. If the current situation persists, there will be a significant change in market value.
According to recent updates, audit firm BDO could be the next to leave crypto clients. Previously, Mazars had reassessed its options in its approach to the crypto industry. According to media reports, BDO is considering its options to either limit its services or stop them altogether for crypto firms. A BDO representative stated that they are re-evaluating their approach to the crypto sector and the work they undertake for their clients.
If these changes take place, various crypto companies will have to find a new service to fulfill their needs. Tether has been dependent on BDO Italia for its monthly attestation statements. There are other various big names that have relied on BDO for their audit. Some of these include Stasis, Revolut, Blockchain.com, Mercado Bitcoin, etc.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Ethereum and others.
BTC lowers to $16.6K
Hal Finney’s Twitter account has just been revived recently. He was the first person ever to receive a Bitcoin transaction, which gave him immense importance. Hal Finney died in 2014 and his account has been inactive since then. As the value of Bitcoin has seen various ups and downs, his Twitter account has gained considerable importance.
The latest changes for Bitcoin show the continuation of the negative trend. The latest data shows that it has fallen 4.21% in the last 24 hours. The seven-day data shows that Bitcoin has retreated by 2.70%.
The price value of Bitcoin is currently in the range of $16,683.00. The market value of Bitcoin is estimated to be $320,911,114,246. The 24-hour trading volume for Bitcoin is approximately $24,958,892,443.
ETH is facing a rapid recession
Ethereum price records show it has seen December’s biggest liquidation. These changes have forced users to think about the possible discontinuation in the future. The price changes came as a result of the interest rate hike decision by the US central bank.
The performance of Ethereum has also shown a bearish trend in recent hours. The latest data shows that it has fallen 7.65% in a day. The weekly performance of this coin shows a loss of 7.21%.
The price value of ETH is currently in the area of $1,174.02. The market value of this coin is estimated to be $143,669,250,772. The 24-hour trading volume for the same coin is approximately $9,760,388,664.
TRX cannot hold value
Tron has also been in losses and could not hold its value amid bearishness. The latest data shows that it has declined by 6.11% in the last 24 hours. The seven-day data shows that it has decreased 4.45%. The price value of TRX is currently in the range of $0.05238.
The market value of Tron is estimated at $4,820,266,733. The 24-hour trading volume for this coin is approximately $263,334,968. The same amount in its original currency is approximately 5,023,838,603 TRX.
LTC turned down
Litecoin has also faced strong downward pressure due to the recessive market. The latest data shows that it has fallen 8.63% in the last 24 hours. The seven-day data shows that it has moved back 12.47%. The price value of LTC is currently in the area of $66.87.
The market value of Litecoin is estimated to be $4,804,448,482. The 24-hour trading volume for this coin is around $810,184,304. The circulating supply of the same coin is approximately 71,845,156 LTC.
Final thoughts
The global crypto market has seen a negative change in performance in recent hours. The latest changes for Bitcoin, Ethereum and others show a drop in value. As the market has faced losses, there has been an increase in the inflow of capital. The global market cap has dropped considerably as it is estimated to be $800.10 billion.
