Bitcoin Has a Small Drop, Mostly Sideways Trading November 12

On Tuesday, November 12, most of the cryptocurrency markets were showing sideways trading. Most of the price changes for the day did not exceed 1 percent for the top 20 coins. Bitcoin traded sideways for nearly all of the day. It kept circling the $8,800 price point. As the largest cryptocurrency in the world, it had a low of $8,705 for the day and moved up to $8,750. It had a total price gain of 0.27 percent on the day.

Bitcoin keeps struggling to hold onto its current price point. Traders are wondering if it could drop more, to around $8,400. A few well-known traders and leaders think that Bitcoin could move past the market cap of gold. A few analysts have rather high expectations of the potential value of Bitcoin.

As for Ether, it is trading around $186 per coin. It had a small dip that was in line with Bitcoin's. Its drop was 0.1 percent for the day. An industry analyst reported that a breakout price point of $197.75 could signal a positive move that will yield a further price increase up to about $224 per coin, possibly even $235.70 per coin. However, if there is a bear price signal, it could drop to $173.84 nd then again down to $151 to $161.

XRP, which is the third largest digital coin when comparing values by market capitalization, is trading for now at $0.271 per coin. This was a drop of 1.44 percent for the day. At a recent industry conference, the CEO of XRP said that he does not spend much time thinking about the coin's short-term pricing.

Nearly all of the coins had sideways trading, with the majority of them seeing shifts in value of less than 1 percent in either the positive or the negative direction. The one exception was NEO, which gained more than 10 percent in 24 hours. Chainlink had a 3.29 percent daily gain. Cosmos lost about 4 percent of its value. As of the close of November 12, the total cryptocurrency market cap was $240 billion, and Bitcoin made up 66 percent.