Cryptocurrency Market Analysis - Bitcoin Sell Off Ends, Accumulation Starts.

Cryptocurrency Market Analysis - Bitcoin Sell Off Ends, Accumulation Starts.

2021-11-14 | Selina Mathew

Cryptocurrency Market Analysis - Bitcoin Sell Off Ends, Accumulation Starts.

Today, November 14, the cryptocurrency market is in the green zone again. The worldwide crypto market capitalization is $2.83 trillion, +0.3%  from the previous day. The overall cryptocurrency market volume over the previous 24 hours seems to be stabilizing for today. The entire volume in DeFi is present $14.54 billion, accounting for 12.23% of the total 24-hour volume in the crypto market. The overall volume of all stable currencies is now $92.07 billion, accounting for 77.43% of the entire 24-hour volume of the cryptocurrency market. Bitcoin's price is approximately trading over $64.8k, and it has a 43.10 percent market share. It has gained +1.48% of its value. BTC

BTC/USD 1 Day Price Chart: Source - Coinmarketcap.com

In recent international news, Apple CEO Tim Cook acknowledged that he had purchased cryptocurrencies as part of his portfolio, but denied that Apple will join the cryptocurrency club. Cook stated at the New York Times DealBook Online Summit, "I believe it's appropriate to buy it as part of a diverse portfolio," but added that he wasn't offering investing advice. Cook stated that he had been curious about cryptocurrencies for some time and had conducted his own study. Furthermore, Apple's CEO stated that the company does not store any cryptocurrencies and has no intentions to do so in the future. "There are a few more things we're looking into," he continued. According to a Bankrate poll, as many as 49% of millennials in the United States felt comfortable investing in cryptocurrencies. 15 percent of the 49 percent said they are "Very comfortable" with investing in bitcoin, while 34% said they are "Somewhat comfortable." Meanwhile, just 22% of baby boomers (years 57-75) and 37% of Generation X (ages 41-56) indicated they felt comfortable investing in digital currency. From May 25 to 30, 2021, SSRS conducted a phone interview for Bankrate, interviewing 1,008 individuals.

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