Bitcoin price continues to slide despite growing adoption –


Scan to download the Finder app on iOS or Android
After having tried to reclaim support near the AUD$83,000 (US$59,500) range yesterday, Bitcoin, the world’s largest cryptocurrency by total market capitalisation, has continued to showcase small corrections, seemingly finding support around the AUD$81,500 (US$58,000) mark. At press time, BTC is trading at a price point of AUD$81,346.
Pseudonymous independent analyst Rekt Capital is of the view that if Bitcoin is able to maintain its ongoing price action, a convincing trend reversal may be on the cards, spurring the flagship crypto’s value in an upward trajectory over the coming few days. A similar sentiment was also echoed by crypto trading firm QCP Capital, whose crypto analysis team believes that the recent selling pressure has been “capped” and that the market seems to be consolidating rather than showing further signs of dropping.
While large inflow and outflow BTC volumes have been witnessed across all exchanges – signifying an active market – data suggests that the digital currency is currently showcasing its lowest levels of volatility over the last 6 months.
According to information made available by market intelligence firm Blockdata, the total volume of dollar-denominated transactions facilitated by the Bitcoin network has already exceeded that of PayPal. The firm also noted that BTC could overtake payments giant Mastercard as early as 2026.
Over the course of 2021, the Bitcoin network processed about US$489 billion worth of transactions every quarter, which is substantially larger than PayPal’s volume of around US$302 billion. Furthermore, after just a decade of action, Bitcoin’s total transaction throughput rate has scaled up to 27% of Mastercard’s per quarter volume of around US$1.8 trillion and about 15% of Visa’s US$3.2 trillion.
As the Indian government gets ready to table a bill looking to possibly ban “private cryptocurrencies” during its upcoming winter parliament session, it will be interesting to see how the market continues to respond to these developments. Since hinting at the ban recently, the Asian nation’s local crypto market has suffered heavy losses, with most major cryptos – including BTC and ETH – losing over 15% of their value.
Interested in cryptocurrency? Learn more about the basics with our beginner’s guide to Bitcoin, dive deeper by learning about Ethereum and see what blockchain can do with our simple guide to DeFi.
Disclosure: The author owns a range of cryptocurrencies at the time of writing
Where to buy, sell and exchange Bitcoin and cryptocurrency.
Find out which digital wallet is best for you.
How to begin and what to do first.
Pricing news and trends to help guide your decisions.
Click here to cancel reply.
You are about to post a question on
document.getElementById( “ak_js” ).setAttribute( “value”, ( new Date() ).getTime() );
Straight to your inbox
Level 10, 99 York St, Sydney, NSW, Australia 2000
Finder acknowledges Aboriginal and Torres Strait Islanders as the traditional custodians of country throughout Australia and their continuing connection to land, waters and community. First Nation flags

Disclaimer – Hive Empire Pty Ltd (trading as, ABN: 18 118 785 121) provides factual information, general advice and services on financial products as a Corporate Authorised Representative (432664) of Advice Evolution Pty Ltd AFSL 342880. Please refer to our FSG – Financial Products. We also provide general advice on credit products under our own Credit Licence ACL 385509. Please refer to our Credit Guide for more information. We can also provide you with general advice and factual information on about a range of other products, services and providers. We are also a Corporate Authorised Representative of Countrywide Insurance Group Pty Ltd trading as “Austbrokers Countrywide” ABN 51 586 953 292 AFSL No. 511363 for the provision of general insurance products. Please refer to our FSG – General Insurance. We hope that the information and general advice we can provide will help you make a more informed decision. We are not owned by any Bank or Insurer and we are not a product issuer or a credit provider. Although we cover a wide range of products, providers and services we don’t cover every product, provider or service available in the market so there may be other options available to you. We also don’t recommend specific products, services or providers. If you decide to apply for a product or service through our website you will be dealing directly with the provider of that product or service and not with us. We endeavour to ensure that the information on this site is current and accurate but you should confirm any information with the product or service provider and read the relevant Product Disclosure Statement (PDS) and Target Market Determination (TMD) or the information they can provide. If you are unsure you should get independent advice before you apply for any product or commit to any plan. (c) 2021.
Finder Earn and Finder’s cryptocurrency trading is powered by Finder Wallet Pty Ltd (ABN 11 149 012 653) an AUSTRAC registered Digital Currency Exchange and reporting entity (DCE100735494-001). Finder Wallet is an arm of the Finder Group specialising in blockchain technology. Finder Wallet operates the Finder App’s cryptocurrency trading and wallet services. Finder Earn, powered by Finder Wallet Pty Ltd, is not offered under an Australian Financial Services Licence (AFSL). Finder Wallet Pty Ltd is not a bank and does not offer banking services. Banks are covered by a Government Deposit Guarantee. Finder Wallet’s services are not covered by the Australian Government Guarantee on Deposits.
Optional, only if you want us to follow up with you.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve. is one of Australia’s leading comparison websites. We compare from a wide set of banks, insurers and product issuers. We value our editorial independence and follow editorial guidelines. has access to track details from the product issuers listed on our sites. Although we provide information on the products offered by a wide range of issuers, we don’t cover every available product or service.
Please note that the information published on our site should not be construed as personal advice and does not consider your personal needs and circumstances. While our site will provide you with factual information and general advice to help you make better decisions, it isn’t a substitute for professional advice. You should consider whether the products or services featured on our site are appropriate for your needs. If you’re unsure about anything, seek professional advice before you apply for any product or commit to any plan.
Products marked as ‘Promoted’ or ‘Advertisement’ are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder’s decision to show a ‘promoted’ product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options.
Where our site links to particular products or displays ‘Go to site’ buttons, we may receive a commission, referral fee or payment when you click on those buttons or apply for a product. You can learn more about how we make money here.
When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. We provide tools so you can sort and filter these lists to highlight features that matter to you.
We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labelling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
Providing or obtaining an estimated insurance quote through us does not guarantee you can get the insurance. Acceptance by insurance companies is based on things like occupation, health and lifestyle. By providing you with the ability to apply for a credit card or loan, we are not guaranteeing that your application will be approved. Your application for credit products is subject to the Provider’s terms and conditions as well as their application and lending criteria.
Please read our website terms of use and privacy policy for more information about our services and our approach to privacy.


Leave a Reply

Your email address will not be published. Required fields are marked *

Previous Post

Sotheby’s considers Ethereum a ‘first class currency’ while ETH price recovers – FXStreet

Next Post

Bitcoin daily chart alert – Prices trending lower; bears have momentum – Nov. 26 – Kitco NEWS

Related Posts