Bitcoin, Ethereum, Tezos, EOS Price Analysis – December 8 Morning Forecast

• The global cryptocurrency market capitalization has decreased by about 3.78% since yesterday.
• Bitcoin is back to $49K after falling 4.48%.
• The price of Ethereum also falls after a 3.32% decline in value.
• Today’s top gainer, Tezos (XTZ), added 24.11%, followed by EOS with a gain of 9.19%.

Early on Tuesday, the cryptocurrency market showed a positive trend, as major coins bounced back slightly last week. However, today the situation has changed after yesterday’s increase in market capitalization went down the drain. The global cryptocurrency market capitalization has fallen by 3.78% since last night and stands at $2.32 trillion at the time of writing.

It seems that the price values ​​keep rising and falling every day; there has been no stagnation or bullish momentum for any of the cryptocurrencies as they appear to be bipolar in their swings. This is due to the market volatility after the intense bear runs last week.

Investors are hoping that prices don’t fall as much as they already have, given that there are more opportunities for our top cryptocurrencies to lose than to gain. The crypto market was having a hard time staying afloat, as if it was preparing for a bigger bear move than the previous one.

BTC price dropped below $50,000.

Once again, yesterday’s good performance turned out to be nothing short of a disappointment for Bitcoin as prices fell even more due to a 4.09% price drop. Bitcoin has not been lacking in the past week as it continues to oscillate up and down, but shows no signs of regaining its lost composure.

Bitcoin appears to have lost a lot more value than top altcoins like Ethereum or Binance Coin, which came as a shock to investors after BNB became the first of the top three to see bearish moves again. While ETH and BNB did not drown in the bearish efforts, BTC was not so lucky with its price dropping to $48,900.

From now on, it really is a battle of power and will as investors give up their hopes for BTC to reclaim their main title – the $60,000 price point, to be exact. At the time of writing, Bitcoin has recorded a decline in market capitalization to $924.68 billion, with trading volume in the red at $29.39 billion.

ETH, despite all the difficulties, keeps afloat

At the moment, Ethereum hasn’t lost much in value given the drop in global market capitalization. Its value dropped by $117.53, which is easy to recover for our second best coin. This value can be restored within a short period of time, much more easily than thousands of BTC have fallen.

Ethereum has resisted the turn of events by holding its head above the $4.2k mark with a market value of $4270. On the other hand, its market capitalization remains stable at $506.39 billion while it has been trading at $19.04 billion over the past 24 hours, which is equal to 4.49 million ETH.

Recently, Ethereum has not suffered serious losses for investors, it always recovers easily and is on the list of winners. It has much more room to grow, but the impact of ETH on the crypto market is arguably greater than the impact of BTC, which has shown volatility since its all-time high.

XTZ and EOS fit for success?

The volatility of the cryptocurrency market has turned on its back even such notable players as Terra and Gala, as they are lower in the leaderboard today. On the other hand, names like Tezos and EOS have become a lot more visible, taking advantage of the fall of our growth leaders to push themselves higher up the list.

Tezos is a blockchain-based smart contract network. It doesn’t differ much from Ethereum, except that its goal is to constantly change and improve over time. It is up 24.11% over the last day, pushing its price from $4.02 to $5.25 thanks to a 595.02% increase in trading volume in the last 24 hours.

EOS is a platform that allows developers to create decentralized applications. Its main technological method is to make it as easy as possible for programmers to implement blockchain technology and bring it into the application sector. After rising by 9.19%, the price rose by $3.02.

Final Thoughts

With the crypto market remaining as volatile as ever, can our leading currencies turn things around and return to their former standards? It is impossible to predict what will happen next in the cryptocurrency market, so investors need vigilance and ingenuity to make the right choice in the market.

The last thing an investor wants is to lose more money than they bargained for, but how can you tell if they will win or lose in such uncertainty? However, the cryptocurrency market has never missed an opportunity to recover faster and stronger than ever.