This post was written exclusively for Investing.com
- Bitcoin continues trending lower; Ethereum consolidates
- The number of tokens breaches the 15,000 level
- Loopring: worth more than 99.6% of the asset class
- New highs for LRC in November
- Caution for all crypto investors and traders
After a few weeks of wild price swings, cryptocurrencies have calmed. The latest highs in and came on Nov. 10, when the leading crypto rose to just shy of $70,000 per token. Ethereum flirted with over $4,900 on the day that both digital coins put in bearish reversal patterns on the daily charts.
Over the past years, whether cryptocurrencies rise or fall, the number of tokens populating the asset class continues to grow. It’s approaching double the number at the end of 2021.
(LRC) is a top-tier cryptocurrency founded in 2017 that’s headquartered in Shanghai, China. Ironically, the Chinese government has cracked down on cryptocurrencies, partially in preparation for its broader release of a digital yuan, now being tested inside the country but has not yet officially launched.
LRC is another crypto that proves the asset class transcends borders, flying above or below government radar as the price moved to a new all-time high in November.
Bitcoin continues trending lower; Ethereum consolidates
On Nov. 10, and tokens reached new all-time highs. The two leading cryptocurrencies turned lower on that day, putting in a pair of bearish key reversal patterns on the daily charts.
While both currencies remain substantially lower than their Nov. 10 highs, Ethereum has outperformed Bitcoin over the past month.
Source: CQG
The daily chart of December shows four bearish reversal patterns, on Nov. 10, 18, 26, and Dec. 3. Bitcoin continued to trend even lower, reaching a low of $47,215 on Dec. 5.
At $50,080 on the December futures contract, the leading crypto was over 28% below the Nov. 10 $69,830 high.
Source: CQG
The daily chart of December shows bearish reversals on the same days. Meanwhile, Ethereum…
![Anticipation for Ethereum [ETH] 2.0 rises as metric reaches all-time high](https://crypto.newswireservice.net/wp-content/uploads/2023/01/ethereum-wale-1000x600-350x250.jpg)
