Daily Cryptocurrency Tracker 12.3.19: Crypto market seen lower

The cryptocurrency market reverted to losses over the past 24 hours, as all top 10 cryptos were seen lower at the time of writing. Bitcoin was down more than 1.4%, dipping below the $3,900 mark. Despite the recent losses, BTC prices are still up more than 2% for the week.

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Litecoin drops more than 3.5%

Of the top 10 cryptos, it was Litecoin, currently ranked 4th overall by market cap, to register the largest losses. At the time of writing, Litecoin was down more than 3.7%. However, despite these recent losses, Litecoin still showed impressive gains for the week, climbing more than 15% over the past 7 days.

Highly volatile investment product. This is not investment advice. Your capital is at risk.

Barclays analyst: Facebook Coin could yield $19B

In a note to investors, Barclays analyst Ross Sandler said that Facebook’s rumored cryptocurrency could be a major revenue maker for the social media giant. According to CNBC, Sandler told investors that the new “Facebook Coin” could generate anywhere between $3 billion to $19 billion by 2021. Facebook’s total revenue in 2017 was just over $40 billion, meaning Sandler is projecting an increase of nearly 50%. However, Sandler said that the revenue boost will only be possible if “Facebook Coin proves successful in reinvigorating FB’s micro-payment strategy for digital content distribution.”

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