Wall Street informative
A large number of warning encryption currency movements, investors and traders are increasingly worried about. In the past twenty-four hours, the entire digital currency market suffer, bitcoin, bitcoin cash (BCH), Stellar and Ethernet coins, Wright currency fell again.
P.m. Beijing time, Bitstamp display, bitcoin prices fell below $5200, a 2017 year low of 10 months, days fell nearly 7%. U.S. stocks Monday midday, the same platform data show that bitcoin fell below the $5000 mark, for the first time since October 2017, currently at $4960, 24 hour plunge over 10%. U. S. stocks after hours, bitcoin fell below 4800 for $4700 and two points, the last 24 hours fell more than $800 or nearly 15%.
This represents the past 7 days, bitcoin fell over 22% this year, tired and fell over 65%. Since bitcoin crossed the $10 thousand mark in 2017 years after the Thanksgiving Day, compared with the same period last year, bitcoin fell over 30%. According to the observation of CNBC, CME and CBOE bitcoin futures also hit last December after the launch of the lowest.
According to CoinMarketCap.com statistics, since last week, accompanied by a relatively quiet break bitcoin began to fall, and other mainstream digital currencies pudie. The last 24 hours, reboxetine currency fell 5%, the deepest etheric coin fell 15%, the top 10 digital currency mostly showed double-digit decline. The whole digital currency market in the past week to erase at least $40 billion, less than $168 billion on Monday. From January this year highs, digital currency overall market value of at least $660 billion.
The characteristics of the capital market in October is the mainstream risk asset classes are generally sold, but the field of digital currency to maintain a relatively calm. But last week, volatility suddenly returned to the digital currency market, the Wall Street informative article “members only calm after two months, bitcoin by volume plunged choose the direction? “Think, from a fundamental point of view, the encrypted digital currency collective slump, and BCH (bitcoin cash) in November 15th second hard bifurcation because of increased uncertainty:
According to the design roadmap, every six months will be on a hard BCH bifurcation. BCH in 2018 5 completed the first hard branch, the development team reached a consensus on the bifurcation, no new bifurcation coins the size of the blocks, will be increased from 8M to 32M. In essence, bitcoins for other digital encryption currency greatness through hash collision, created a scarcity of supply. But other digital encryption currency every branching time, expansion of several times, will lead to scarcity is getting worse. This is a BCH hard facing bifurcation, nature is by Craig Steven Wright (Australian person “Macao Satoshi”) spoiler, BCH community face split situation. The British “Financial Times” reporter Jemima Kelly has not been optimistic about encryption currency: “unlimited copy what is bound to the lack of long-term value, no matter how much added garish things, all in vain.”
Moreover, some financial institutions and media collective failure to see digital currency bitcoin led, exacerbated the market selling pressure.
“Forbes week” reported that KPMG (KPMG) warned last week that in bitcoin and other encryption currency has not yet been classified as legal tender cases, to be used as a store of value is a “stupid”; encryption currency and asset boom to “system management”, which is expected to achieve this year, but still did not see specific measures landing, so the global banks and financial institutions are on the sidelines, waiting for regulatory action.
Bloomberg quoted eToro analyst Mati Greenspan said, the market value of the largest bitcoin digital currency under a support level is $5000, if lost, under a support or $3500. Even some analysts predict that bitcoin could fall to $1500, more than the current level fell more than 70%. While bitcoin has nearly $20 thousand from last December highs fell over 70%. This exacerbated investors bitcoin negative emotions.
Thirdly, U. S. Securities Regulatory Commission announced the first SEC decision for civil penalties token financing of ICO Airfox and Parago Coin, the two companies issued by ICO has not been registered as securities, the need to pay fines of $25 million to compensate investors. SEC chairman Jay Clayton said earlier this year, in addition to bitcoin and etheric coins, all digital coins or tokens are needed to be regulated securities. This caused the market panic on the strict supervision.
The European regulatory attitude is not optimistic. Benoit Coeure executive director of the European Central Bank last week in the bank for the bank for International Settlements BIS said in a speech, bitcoin is the combination of foam, Ponzi scheme and environmental disaster”. He acknowledged that bitcoin creative is very clever, but not every idea is a good idea, in many ways, bitcoin is evil product after the financial crisis.
Since late October fourth, NVIDIA and digital currency “AMD mining business is poor, itself indicates weak demand for digital currency. Since last week’s release of poor earnings, NVIDIA Monday fell by about 10%, the market value has shrunk to $10 billion to $90 billion. Creative Planning, CO chief investment officer Peter Mallouk told Bloomberg said, NVIDIA shares fell a symbol of digital currency fueled demand subsided, “chip giant’s share price is poor, and other digital currency bitcoin canaries in the coal mine”.