{"id":13369,"date":"2024-12-20T11:40:25","date_gmt":"2024-12-20T11:40:25","guid":{"rendered":"https:\/\/cryptd.in\/bitcoin-btc-price-collapse-meme-coin-bloodbath-and-more-bits-recap-dec-20\/"},"modified":"2024-12-20T11:40:25","modified_gmt":"2024-12-20T11:40:25","slug":"bitcoin-btc-price-collapse-meme-coin-bloodbath-and-more-bits-recap-dec-20","status":"publish","type":"post","link":"https:\/\/cryptd.in\/pt\/bitcoin-btc-price-collapse-meme-coin-bloodbath-and-more-bits-recap-dec-20\/","title":{"rendered":"Bitcoin (BTC) Price Collapse, Meme Coin Bloodbath, and More: Bits Recap Dec 20"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\"><strong>TL;DR<\/strong><br \/>\n<\/span><\/p>\n<ul>\n<li>Bitcoin (BTC) dropped 14% in three days, influenced by the Federal Reserve\u2019s inflation concerns.<\/li>\n<li>The meme coin market saw a sharp 20% drop, with assets like DOGE and SHIB facing double-digit losses and analysts predicting further losses for the former.<\/li>\n<li>XRP hit a multi-day low of under $2, but industry participants remain optimistic, highlighting key potential triggers for a future rally, including a Ripple ETF and regulatory resolutions.<\/li>\n<\/ul>\n<h2><span data-preserver-spaces=\"true\"><a href=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2024\/12\/Recap_CB-27.jpg\" data-wpel-link=\"internal\"><img decoding=\"async\" class=\"alignnone size-full wp-image-375521\" src=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2024\/12\/Recap_CB-27.jpg\" alt=\"\" width=\"1201\" height=\"720\" \/><\/a><\/span><\/h2>\n<h2>BTC Loses $13K in Three Days<\/h2>\n<p><span data-preserver-spaces=\"true\">At the start of the business week, Bitcoin (BTC) soared to a new all-time high of over $108,000. Its market capitalization crossed the $2 trillion mark, making the cryptocurrency bigger than Saudi Aramco and other well-known corporations.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">However, the peak was short-lived, and the bulls took a <\/span><span data-preserver-spaces=\"true\">major<\/span><span data-preserver-spaces=\"true\"> blow in the following days. BTC tumbled to approximately $101,000 on December 18 and under $93,000 in the last several hours. Currently, the asset is worth around $93,200 (per CoinGecko\u2019s data), representing a 14% decline on a three-day scale.<\/span><\/p>\n<p><a href=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2024\/12\/BTC-Price-4.png\" data-wpel-link=\"internal\"><img decoding=\"async\" class=\"alignnone size-full wp-image-375520\" src=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2024\/12\/BTC-Price-4.png\" alt=\"\" width=\"1037\" height=\"738\" \/><\/a><\/p>\n<p><span data-preserver-spaces=\"true\">The market started retracing shortly after the US Federal Reserve <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/cryptopotato.com\/bitcoin-price-tumbles-toward-100k-despite-feds-latest-rate-cut\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\"><span data-preserver-spaces=\"true\">announced<\/span><\/a><span data-preserver-spaces=\"true\"> its latest rate cut. It reduced the benchmark by 0.25%, but Chairman Jerome Powell hinted that <\/span><span data-preserver-spaces=\"true\">the policy might be paused<\/span><span data-preserver-spaces=\"true\"> next year due to rising inflation concerns. <\/span><span data-preserver-spaces=\"true\">He also said the central bank is not permitted to buy BTC<\/span><span data-preserver-spaces=\"true\">, despite Donald Trump\u2019s promises<\/span><span data-preserver-spaces=\"true\">.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">While the 13-grand crash in just three days might sound quite dramatic, some factors hint that the bulls could be back in charge soon. Crypto analytics platform Santiment recently <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/cryptopotato.com\/bitcoin-could-skyrocket-by-25-in-days-if-history-repeats-but-theres-a-catch-data\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\"><span data-preserver-spaces=\"true\">estimated<\/span><\/a><span data-preserver-spaces=\"true\"> that BTC\u2019s collapse has increased discussions about buying the dip to early August levels. Back then, the asset\u2019s price tumbled below $50,000, but a few days later, it climbed beyond $62,000. It will be interesting to see whether history will repeat itself this time.\u00a0<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Heavy Bleeding in the Meme Coin Niche<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">The meme coin sector has been even more affected than BTC. <\/span><span data-preserver-spaces=\"true\">Its market capitalization is down a whopping 20% <\/span><span data-preserver-spaces=\"true\">on a daily scale<\/span><span data-preserver-spaces=\"true\">, plunging below $100 billion.<\/span><span data-preserver-spaces=\"true\">\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">All of the leading assets, including Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), Bonk Inu (BONK), <\/span><span data-preserver-spaces=\"true\">dogwifhat<\/span><span data-preserver-spaces=\"true\"> (WIF), and many more, have charted double-digit losses. <\/span><span data-preserver-spaces=\"true\">It is <\/span><span data-preserver-spaces=\"true\">quite<\/span><span data-preserver-spaces=\"true\"> challenging to find<\/span><span data-preserver-spaces=\"true\"> a meme coin positioned in the green today, with Zerebro (ZEREBRO) being among the few exceptions.<\/span><span data-preserver-spaces=\"true\">\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Some analysts <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/cryptopotato.com\/dogecoin-price-dumps-by-25-in-2-days-is-doge-heading-toward-0-22\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\"><span data-preserver-spaces=\"true\">expect<\/span><\/a><span data-preserver-spaces=\"true\"> further losses in the sector, more specifically <\/span><span data-preserver-spaces=\"true\">touching upon<\/span><span data-preserver-spaces=\"true\"> DOGE. Jake Wujastyk envisioned a potential drop to $0.27, while Rose Premium Signals predicted a crash to $0.22. However, the latter thinks DOGE could <\/span><span data-preserver-spaces=\"true\">then<\/span><span data-preserver-spaces=\"true\"> rebound and resume its bull run.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">How\u2019s XRP Doing?<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Lastly, we will focus on<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/cryptopotato.com\/why-is-the-ripple-xrp-price-down-today-5\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\"><span data-preserver-spaces=\"true\"> Ripple\u2019s native token<\/span><\/a>,<span data-preserver-spaces=\"true\"> which is also deep in the red today (December 20). Currently, it trades at around $2, <\/span><span data-preserver-spaces=\"true\">which is<\/span><span data-preserver-spaces=\"true\"> the lowest mark observed in the past ten days.<\/span><\/p>\n<figure aria-describedby=\"caption-attachment-375518\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2024\/12\/XRP-Price-8.png\" data-wpel-link=\"internal\"><img decoding=\"async\" class=\"wp-image-375518\" src=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2024\/12\/XRP-Price-8.png\" alt=\"XRP Price\" width=\"566\" height=\"400\" \/><\/a><figcaption class=\"wp-caption-text\">XRP Price, Source: CoinGecko<\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">Many industry participants, though, foresee good days ahead for the XRP army. One analyst recently <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/cryptopotato.com\/dont-sell-your-ripple-xrp-until-these-seven-things-happen-analyst\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\"><span data-preserver-spaces=\"true\">advised<\/span><\/a><span data-preserver-spaces=\"true\"> investors to cash out only when seven <\/span><span data-preserver-spaces=\"true\">important<\/span><span data-preserver-spaces=\"true\"> things happen. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Those include <a href=\"https:\/\/cryptopotato.com\/xrp-price-on-the-move-as-ripple-announces-stablecoin-launch-on-dec-17\/\" data-wpel-link=\"internal\">the introduction of Ripple\u2019s stablecoin<\/a>, Donald Trump\u2019s inauguration, a potential resolution of the Ripple v. SEC case, Gary Gensler\u2019s departure from the regulator, the beginning of the altseason, a partnership between the company and a large banking institution, and the possible launch of an XRP ETF.\u00a0<\/span><\/p>\n<p>A publica\u00e7\u00e3o <a href=\"https:\/\/cryptopotato.com\/bitcoin-btc-price-collapse-meme-coin-bloodbath-and-more-bits-recap-dec-20\/\" rel=\"nofollow\">Bitcoin (BTC) Price Collapse, Meme Coin Bloodbath, and More: Bits Recap Dec 20<\/a> apareceu primeiro em <a href=\"https:\/\/cryptopotato.com\/\" rel=\"nofollow\">CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>TL;DR Bitcoin (BTC) dropped 14% in three days, influenced by the Federal Reserve\u2019s inflation concerns. The meme coin market saw a sharp 20% drop, with assets like DOGE and SHIB facing double-digit losses and analysts predicting further losses for the former. XRP hit a multi-day low of under $2, but industry participants remain optimistic, highlighting [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":13371,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-13369","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Bitcoin (BTC) Price Collapse, Meme Coin Bloodbath, and More: Bits Recap Dec 20 - cryptd.in<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptd.in\/pt\/bitcoin-btc-price-collapse-meme-coin-bloodbath-and-more-bits-recap-dec-20\/\" \/>\n<meta property=\"og:locale\" content=\"pt_PT\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin (BTC) Price Collapse, Meme Coin Bloodbath, and More: Bits Recap Dec 20 - cryptd.in\" \/>\n<meta property=\"og:description\" content=\"TL;DR Bitcoin (BTC) dropped 14% in three days, influenced by the Federal Reserve\u2019s inflation concerns. The meme coin market saw a sharp 20% drop, with assets like DOGE and SHIB facing double-digit losses and analysts predicting further losses for the former. 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