Bitcoin below $4800 new low virtual currency price down channel

Long silence of the virtual currency market recently began “roaring waves”, such as virtual currency bitcoin ushered in the “cliff” down.

According to the Bitstamp data of the trading platform, the 11 month 13 days to 15 days, bitcoin quotes from $6261 to $5596, its lowest level in nearly 13 months.

This week, bitcoin continues to decline. From 11 to 19 August 8 11 20 August 8, bitcoin 24 hours a decline of nearly 15%. Especially the November 20th early morning, just a few hours of continuous, 4900, 4800, 5000 below the $4700 mark integer 4, as of November 20th at noon, still hovering around the $4759 low. A year ago, bitcoin prices also ranked above $10000.

By bitcoin prices, other virtual currencies also fall”. According to CoinMarketCap statistics, from November 19th to November 20th, the top ten virtual currency is mostly decline, which fell 15% yuan highest Ethernet, reboxetine currency fell 5%. The virtual currency market in the past week to erase at least 400 billion dollars.

For the crash of virtual currency, and many analysts believe that bitcoin cash (BCH) “hard branch”.

BCH is one of the bitcoin currency bifurcation, and aims to solve the problem of low efficiency in trading for bitcoin block small capacity. In 2017 August, in a number of technical personnel, large miners and bitcoin holders under the support of BCH emerged as currency bitcoin bifurcation.

In November 15th this year, BCH has conducted second “hard bifurcation”. Although with which an algorithm bifurcation is uncertain, but each bifurcation once, will lead to scarcity worse. Therefore, the second “hard fork” once again raised concerns that the existing bitcoin value will be diluted. Some bitcoin holders, rising risk aversion sell-off intensified, making the already has a shrinking of the virtual currency market suffered another blow.

In bitcoin “hard fork” differences appear at the same time, virtual currency regulation news is not optimistic.

In November 16th, the U.S. Securities Regulatory Commission announced the first issue of financing for tokens (ICO) decided the civil penalties, Airfox and Parago Coin two companies issued ICO has not been registered as securities, the need to pay a fine of $250 thousand to compensate investors, which caused investors to worry about the strict supervision.

In China, the virtual currency regulation has been relaxed. As early as last September, Chinese people’s Bank and other departments jointly announced shut down virtual currency trading platform. National Internet financial risk special rectification team leader, deputy governor of the people’s Bank of China Pan Gongsheng this year is that virtual currency trading places and ICO behavior, illegal financial activities, must be “outcrop”.

Experts said that at present, the price of bitcoin and other virtual currencies also decline in the channel, the fundamentals did not appear obvious turning point, because of the transactions included in the scope of legal regulation is not yet in most countries, there is fraud, illegal business and other risks, the blind admission easily suffered losses, the investment needed to be cautious.

(Editor: Li Jing)

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