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Daily price analysis of Bitcoin, Ethereum, FileCoin and ApeCoin – December 7 roundup

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  Bitcoin

The global crypto market has seen continuous negative changes in performance. Recent data for Bitcoin, Ethereum, and others indicate an ongoing slump. The market has been facing its worst nightmare since the last months of 2021. Since then, there have been major fluctuations in market value that have led to the collapse of large companies. If the market continues to retreat, the effects will reach investors and large companies. There is hope for improvement in the current situation.

A recent CNBC poll shows that only 8% of Americans have a positive view of digital currencies. CNBC’s Pan American Economic Survey was conducted in late November, a few weeks after the collapse of cryptocurrency exchange FTX. There is a significant decline in crypto supporters as the number has dropped from 19% in March to just 8%. The survey was conducted between November 26 and 30.

Even though the survey had a big name, it only included 800 respondents from across the United States. Furthermore, the margin of error in the poll was about +/- 3.5%. The survey was released on December 7 and added that the number of crypto market haters has increased. Available data shows that crypto haters have increased to 43% in November from 25% in March.

Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum and others.

Bitcoin transactions are down

According to Bloomberg News, Bitcoin miner Marathon is considering a proposal to compute North. The company’s CEO, Fred Thiel, told Bloomberg that it has hired consultants to work out the details. These include exposure to the reasons for Compute North’s bankruptcy and a possible post-disposition offer.

BTCUSD 2022 12 08 07 28 20
Source: TradingView

Recent changes for Bitcoin indicate a continuation of the negative trend. The latest data shows that it has fallen by 1.37% in the last 24 hours. Seven-day data shows that Bitcoin is down 1.70%.

BTC price value is currently in the range of $16,826.27. The market value of Bitcoin is estimated at $323,526,415,422. Bitcoin’s 24-hour trading volume is about $19,374,095,809.

ETH towards red candles

Ethereum has seen an increase in the number of holders, so it is likely to increase. According to Glassnode data, addresses with 32 ETH and above are at their highest.

ETHUSDT 2022 12 08 07 28 41
Source: TradingView

As the negative trend continues, Ethereum has not performed better. The latest data shows that it has fallen by 3.04% in the last 24 hours. The seven-day data shows a decrease of 4.54%.

ETH price value is currently in the range of $1228.44. The market value of this coin is estimated at 150,328,382,714 dollars. The 24-hour trading volume of this coin is about $5,637,737,200.

Defeated FIL

The value of Filecoin has also continued to decrease as the market continues to bear down. The latest data shows that it has declined by 4.61% compared to the previous day. Seven-day data shows a 9.47% decline. The price value of FIL is currently in the range of $4.36.

FILUSDT 2022 12 08 07 29 00
Source: TradingView

The market cap of Filecoin is estimated at $1,455,137,112. The 24-hour trading volume of this coin is about $109,604,432. The same amount in its local currency is about 25,154,094 FIL.

Descending APE

The value of ApeCoin has decreased due to a significant decrease. The latest data shows that it has fallen by 6.55% in the last 24 hours. Seven-day data shows a decline of 1.85 percent. APE price value is currently in the range of $3.87.

APEUSDT 2022 12 08 07 29 19
Source: TradingView

The market cap of ApeCoin is estimated at $1,397,179,372. The 24-hour trading volume of this coin is about $187,126,577. The circulating supply of this coin is about 361250000 APE.

Final thoughts

The global crypto market has witnessed the continuation of the negative trend. In recent hours, no improvement has been observed in the performance of Bitcoin, Ethereum and others. As the downward trend continues, the market has continued to depreciate. This negative change has also affected the global market value. The latest data shows that it is estimated at 839.32 billion dollars.

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