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Bitcoin price drops more than 20% to $42,000. What’s going on?

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With the new Covid Omicron variant, the bitcoin price drops more than 20%. Bitcoin, Ethereum, and several other cryptocurrencies face a storm of bearish catalysts. Cryptocurrency prohibitions might also be the cause.

Bitcoin price dropped drastically in the early hours of this Saturday, November 4th, falling more than 20%, coming to trade at US$ 42,000. 

The price of Ethereum plummeted, dropping more than 25%, to around $3,400, and other known cryptocurrencies have also seen their market prices going down. The total market capitalization dropped 16% to $2.2 trillion. 

Top 10 Cryptocurrency Market // Source: CoinMarketCap

On a side note, in early November, the total market capitalization of cryptocurrencies reached $3 trillion for the first time in history.

Cryptocurrencies have been in chaos since the appearance of the Omicron form of the coronavirus. 

The Bitcoin price drops more than 20% What could be the cause?

On November 26th, bitcoin dropped to a seven-week low to trade at $54,000, entering the falling territory, when in October, it passed the $68000 barrier. At the time of the writing of this article, the price recovered, and it’s trading at $47205,98.

image 13 - Crypto DeFinance
Bitcoin price // Source: CoinMarketPrice

Tech stocks also had a bad week, with the Nasdaq index closing the week down about 2.5%. Cryptocurrency and stock prices are typically not closely correlated, however, large stock sales may be causing investors to become more aware of the overall risk and exit cryptocurrency positions.

The World Health Organization (WHO) said on past Friday, November 3rd, that the variant was detected in 38 countries, compared to 23 two days ago, with initial data suggesting that the strain is more contagious than others.

In addition to fears over the omicron variant, rising yields on US Treasuries may be prompting investors to abandon riskier investments in search of safer returns.

The index fell to its lowest level in over seven weeks. The return of the “red tide” to the markets harmed the most cyclical industries, such as retail and tourism. The energy industry was also among those that suffered the most losses as a result of the reduction in the price of an oil barrel.

Fed Chairman Jerome Powell stated on Tuesday that “it is time to remove the temporary end of inflation,” bolstering the notion that interest rates may increase sooner than expected, which penalized equities on both sides of the Atlantic.

Jerome Powell further warned that this new coronavirus variant offers possible economic hazards at a time when US inflation is at its highest level since 1990.

And this could be leading the investors to liquidate their Cryptocurrency positions.

Cryptocurrency prohibitions and regulatory restrictions across the world

image 14 - Crypto DeFinance
Source: Cointelegraph Analytics

Other causes could be the potential for further regulatory restrictions to be weighing on cryptocurrency valuations. 

China has effectively banned cryptocurrency and mining transactions. The conflict between Chinese officials and miners lasted for more than six months. 

China prohibited mining activities in May of this year, forcing these business people to shift their equipment to other countries such as the United States, Kazakhstan, and Russia.

On November 16th, China resumed its war on miners, declaring that Chinese officials would work more to penalize unlawful miners.

“Virtual currency mining is high energy consumption and carbon emissions, and does not play a positive role in industrial development and technological progress.”

Said the Chinese Government.

Despite portraying itself as an ecologically correct and environmentally conscious country, China’s primary energy source is coal combustion, as seen in the quotation below.

Following the departure of miners to other nations such as the United States, bitcoin mining is already proving to be more environmentally friendly.

“The risks arising from the production and trading of virtual currency are becoming increasingly prominent. Its blind and disorderly development has a severe adverse impact on promoting high quality economic and social development, energy conservation and emission reduction.”

said Meng Wei, a spokesperson for National Development and Reform Commission in China.

India is about to introduce legislation, not to ban, but to regulate all cryptocurrencies.  According to the government announcement, the new law will allow for “limited exclusions to promote the underlying cryptocurrency technology and its purposes.”

The Indian Central Bank further stated that they raised “severe concerns regarding macroeconomic and financial stability.”

The regulation is meant to safeguard Indian consumers when a rising number of individuals, many of whom lack financial expertise or information, are making these sorts of transactions and risk losing their entire investment, treating cryptocurrencies as assets.

The United States has recently signed the US spending bill included new taxes for cryptocurrency brokers.

Among these various factors, Bitcoin, Ethereum, and several other cryptocurrencies faced a storm of bearish catalysts.


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Sky is a seasoned cryptocurrency expert with a passion for blockchain technology and digital finance. With years of experience in the crypto industry, he has authored insightful articles on market trends, emerging technologies, and investment strategies. His work has been featured in leading crypto publications, helping both beginners and seasoned investors navigate the complex world of digital assets. Sky is dedicated to providing readers with accurate, up-to-date information to make informed decisions in the rapidly evolving crypto space.

Crypto

BlockDAG Eyes $600M as Presale Hits $321M: Is This the Best Crypto to Buy in 2025?

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In 2025, the crypto market is leaning toward real value over speculation. Projects with working products and long-term goals are gaining attention. BlockDAG caught this wave early. With over $321 million raised and 23.2 billion coins sold, it’s becoming a strong candidate for long-term growth. Unlike many early-stage Layer 1s, BlockDAG (BDAG) already has a working testnet, decentralized apps, and a growing mining network.

The platform also boasts over 18,170 ASIC miners sold and 2 million users on the X1 mobile mining app. These stats prove that BlockDAG is not just promising big things, it’s actually building. As the coin continues to sell at $0.0020, many are calling BlockDAG the best crypto to buy in 2025. Its roadmap shows clear planning and live systems, not just ideas.

Utility Over Hype: The Road to $600 Million

Rather than relying on marketing slogans, BlockDAG is using working technology to reach its $600 million goal. Its no-code dApp builder is active, and developers are already testing contracts on the live testnet.

This means value is being created now, not sometime in the future. With smart contract deployment and active nodes already happening, BlockDAG stands apart. That’s why it is being seen as the best crypto to buy in 2025. The foundation is already running, giving users a real use case before launch.

Pre-Launch dApps Show Early Adoption

The number of builders using BlockDAG before listing is growing. Developers are using its low-code platform to create dApps even before exchange listings go live. This points to trust in the system.

With a goal to reach 1,000 dApps by 2026, BlockDAG is working with developers through a grant program. Its EVM-compatible setup allows easy migration from Ethereum. In a space where builders usually wait for prices to rise, BlockDAG is flipping the trend. That’s why it keeps gaining traction as one of the best cryptos to buy in 2025.

Mining Network Strengthens Ecosystem

BlockDAG is also putting major focus on mining, with 18,170 ASIC miners sold across three product lines:

  • X30 & X100: Shipping begins July 7, 2025
  • X10: Shipping begins August 15, 2025

These miners are not a side project. They support real decentralization and improve network security. Most Layer 1 chains avoid mining and stick to staking, but BlockDAG combines both. That blend supports growth and long-term trust. It adds to the idea that BlockDAG could be the best crypto to buy in 2025.

2 Million Mobile Miners Already Onboard

BlockDAG’s mobile strategy is working. The X1 Miner app has over 2 million active users, letting people mine from their phones. It uses a tap-to-earn model and tracks engagement with Proof-of-Engagement.

This gives users rewards and helps the project grow faster. By making wallets and miners ready before launch, BlockDAG is building a strong user base. For anyone tracking the best crypto to buy in 2025, this level of pre-launch use is a big plus.

Launch Schedule Brings Structure

BlockDAG has laid out a full plan for its listing. Each of the six weeks before launch will include major updates:

  • Week 5 & 6: Presale ends, wallets move, and TAP points convert.
  • Week 4: Mainnet launches with full mining access.
  • Week 3: Nodes and mining pools go live.
  • Week 2: Airdrop and DeFi tools begin.

So by the time trading starts, BlockDAG will have all the key features in place. The planning here feels more like a tech rollout than a startup gamble. It gives added trust to those looking for long-term plays.

Is This the Best Crypto to Buy in 2025?

With $321 million raised, 23.2B coins sold, and the coin available at $0.0020, BlockDAG has made serious progress. Its earlier batches started at much lower prices, offering a 2,660% gain so far.

The current presale gives a rare opportunity before the $0.05 public price hits. The mix of mobile users, dApps, and miner sales makes the project look fully prepared. With a complete system running before listing, BlockDAG is not just a contender; it’s likely the best crypto to buy in 2025.

Presale: https://purchase.blockdag.network

Website: https://blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu

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XRP Targets $30, SHIB Burns Billions, and BlockDAG’s Airdrop Could Lead to Most Popular Crypto Status

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In a market shaped by trends and speculation, three crypto projects are standing out for very different reasons. XRP is looking toward big institutional flows through a possible ETF to push its price to $30. Shiba Inu (SHIB) focuses on large-scale token burns and its metaverse plans, with long-term goals pointing to $0.000321 by 2030.

But BlockDAG’s recent rise brings a different kind of attention.

It’s more than a typical presale. With strong user activity, mobile-based mining, and global appeal, BlockDAG (BDAG) is catching on quickly. Over $321 million has already been raised, and its 100 million token airdrop is live.

As the focus shifts from buzz to working platforms, BlockDAG is starting to stand out as a strong pick for the most popular crypto in this cycle.

Let’s look at what SHIB and XRP are doing next.

SHIB’s Burn Rate Adds Hope to Its Long-Term Forecast

Shiba Inu (SHIB) continues to show strength in long-term predictions. While its current price is only $0.00001045, SHIB remains a known name in the crypto space. A recent 3,484% jump in burn rate removed over 537 million tokens in just one day. With 111.8 billion SHIB also moved off exchanges, the project is building a story around scarcity and steady demand.

Price models show SHIB may hit $0.000321 by 2030. By 2025, forecasts place it around $0.00004201, if its plans for NFTs, DeFi, and the metaverse take shape. But even with strong community support, the gains may come slowly as the fundamentals need more time to grow.

SHIB’s image is still strong, but its path to being the most popular crypto in 2025 depends more on hope than working tools.

XRP’s $30 Goal Depends on ETF Green Light

XRP’s recent price interest is tied to growing chances of a spot ETF being approved in the U.S. At around $2.13 now, XRP could gain large inflows if an ETF follows the success seen in Bitcoin’s case. Bloomberg analysts give a 95% chance of approval, while Polymarket shows an 88% chance by 2025.

If XRP ETFs reach just 35% of Bitcoin ETF volumes, it could raise XRP’s market cap by $1.6 trillion and push its price toward $30. This would be a big jump, placing XRP high on the list by market value. But all of this depends on future regulatory steps.

Without the ETF news, XRP’s price may stop climbing. Even with support from firms like Bitwise and Franklin Templeton, its growth relies more on outside approvals than internal progress. In today’s changing market, that’s a risky bet for those watching the most popular crypto trend.

How BlockDAG Combines Tech, Culture, and Community in 2025

While SHIB focuses on burns and XRP follows ETF updates, BlockDAG is taking a different approach by building step by step. It is welcoming new users, growing its funds, and building cultural presence. One of its biggest updates is passing $321 million in presale. It is now in batch 29, with BDAG priced at $0.0020. The expected launch price is $0.05, making early access appealing.

But BlockDAG is doing more than just raising funds. A recent tease of a major USA sponsorship shows that the platform wants to go beyond the Web3 crowd and connect with a wider audience. That kind of move is not common for early-stage projects, which is why it stands out.

The 100 million token airdrop is another big step. It focuses on tasks linked to social media, the testnet, referrals, and presale activity. This is more than a giveaway. It helps grow a real community. It encourages people to get involved, learn, and give feedback before the mainnet launch.

On the tech side, BlockDAG uses a mix of blockchain and DAG to boost speed through parallel processing. It also supports EVM, has a low-code smart contract builder, and runs on a hybrid proof-of-work system that keeps it fully decentralized.

With this mix of strong tech, easy access, and real engagement, BlockDAG is making a strong case to be the most popular crypto right now. It is not focused on hype, but on steady action that gets attention.

What Makes BlockDAG Stand Out in the 2025 Crypto Race

The push for leadership in 2025’s crypto space is growing fast, but projects are moving at different speeds. Shiba Inu (SHIB) might have strong long-term goals, but its journey depends on hope and slow progress. XRP shows strong price action, but it relies on the SEC approving ETFs, which could still be delayed or denied.

BlockDAG is showing results in every key area. It has raised over $321 million, launched a working testnet, gained a strong user base through its mobile mining app, and teased a major USA sponsorship. It is not just part of the market, it is setting the pace.

As people now look for crypto projects that are easy to use, full of features, and growing fast, BlockDAG has a clear shot at becoming the most popular crypto this year. And with BDAG still priced at $0.0020 in batch 29, the chance to join early may not last much longer.

Presale: https://purchase.blockdag.network

Website: https://blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu

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BlockDAG Rapidly Moves Toward $0.05 as Ethereum Struggles & Hedera Stalls: Top Crypto Coins Right Now

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This week, both Hedera (HBAR) and Ethereum (ETH) are facing familiar challenges, price dips, weak volume, and investor hesitation. The Hedera (HBAR) price chart shows the coin slipping below key levels, while Ethereum just fell under $2,300, losing short-term momentum.

In contrast, BlockDAG (BDAG) is heading in the opposite direction. With a $0.0020 special price until June 24 and a launch target of $0.05, BDAG is rolling out live mining tools, securing exchange listings, and building toward launch. If you’re searching for the top crypto coins right now, BlockDAG’s combination of utility and timing stands out.

Here’s a closer look at where ETH and HBAR stand today, and how BlockDAG is gaining ground while others reset.

BlockDAG Sets a Course From $0.0020 to $0.05

Unlike projects still waiting for traction, BlockDAG is already moving. Its presale price of $0.0020 is set to rise to $0.0030 on June 24, and with a listing goal of $0.05, the potential for a 25x gain is drawing serious attention. But the real story is what’s happening before that price even changes.

BlockDAG has already raised $320.5 million, with over 23.2 billion BDAG coins sold. Its X1 mobile app, already live, has more than 2 million users mining from their phones. Meanwhile, the X30 and X100 mining rigs are shipping out next month, bringing the hardware side of the project to life.

There’s more: a US-based sponsorship reveal is expected on June 30, which could bring a major visibility boost just as the presale nears its final stages. With only 45 batches in total and BlockDAG now in batch 29, the chance to buy in early is closing fast.

Plenty of projects talk about plans, but BlockDAG is already delivering. That’s why it deserves a place on any list of top crypto coins right now, especially with only days left before the next price hike.

Hedera Price Chart Signals Weakness, But All Eyes on Resistance

Taking a closer look at the Hedera (HBAR) price chart, there’s no denying the pressure. After reaching $0.149 earlier this month, HBAR has slid to around $0.137 and is struggling to stay above the $0.14 support line. Technical indicators aren’t helping either; short-term moving averages have crossed below long-term ones, and the price remains stuck in a downtrend.

Futures volume is also low, with under $100 million in open interest, suggesting there’s little fuel for a breakout. Still, some analysts believe that if HBAR can push through resistance at $0.193 to $0.20, a run to $0.25 is possible.

There’s also quiet speculation about an ETF development that could change the outlook, but so far, it’s just that, speculation. For now, the Hedera price chart is best suited for short-term traders looking to play the range, not for those expecting an immediate rally.

Ethereum Price Update: Between Support & Resistance

The Ethereum (ETH) price update this week highlights a cautious market. ETH recently dropped below $2,300 and is trying to regain ground between $2,235 and $2,445. Sell pressure from options expirations and bearish signals has weighed on the price, while resistance at $2,575 remains a key test.

Traders are watching closely, especially as ETH now sits below its 20-day moving average of roughly $2,563. If it can reclaim $2,850, analysts believe a move to $3,000 could happen quickly.

Despite short-term weakness, long-term sentiment is still strong. VanEck’s team is sticking with its forecast that Ethereum could hit $6,000 by the end of 2025, and possibly reach $15,000 by 2030. Institutional adoption and ETF momentum remain the big drivers. That’s why the Ethereum (ETH) price update isn’t just about day-to-day action, it’s about where sentiment is heading over the next few quarters.

Key Highlights

HBAR is under pressure and stuck beneath its support line, and Ethereum is trying to stabilize after its recent dip. Both remain in recovery mode, with long-term potential but short-term uncertainty.

Meanwhile, BlockDAG is moving ahead, not waiting for approval or market sentiment. At $0.0020, just hours away from a jump to $0.0030, and with a $0.05 listing on the roadmap, it’s not just about speculation, it’s about structure.

Add 2 million mobile miners, $320.5 million in presale funds, and upcoming exchange listings, and BDAG isn’t just talking, it’s delivering. Among the top crypto coins right now, this may be one of the few with both a clear plan and a rapidly closing entry window. If you’re watching more than charts and looking for progress, BlockDAG might just be the one to beat.

Presale: https://purchase.blockdag.network

Website: https://blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu

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