Bitcoin continued to fall in December: down 8% on Monday

Source: financial web site

Bitcoin continued to fall in the last month of 2018. According to CoinDesk, bitcoin fell by 8% on Monday after a 37% drop in the end of November, to a low of $3790.96, and it would be hard to recover more than $4000.

At this moment last year, bitcoin began to climb up to nearly $twenty thousand, up 40% in December. The main reason for the soaring price is the active buying of retail investors.

But the situation at the end of the year was quite different: bitcoin has fallen by 73% since the early January. Since January 1st, the 24 – hour trading volume has fallen by 56%, while the entire market value of the encrypted currency market has evaporated by 80%.

Other encrypted currencies have also fallen on Monday. According to CoinMarketCap. data, the world’s second largest market value of the Swiss currency fell 5%, the ether mill dropped 8%.

Analysts believe that the continued crackdown on US regulators and the decline in key technical levels are the main causes of a slow decline in the market value of encrypted currency in November. Michael Moro (Michael Moro), chief executive of Genesis Global Trading, an encrypted currency OTC, said bitcoin failed to maintain a key support position of $5850, so the “price is easy to fall”.

Although the price is low, the encrypted currency is still favored by some industry.

Mati Greenspan, a senior market analyst at the trading platform eToro, points out that a study by Glassdoor.com shows that jobs associated with bitcoin and block chains have increased by 300% in one year, and that “the demand has never been so strong.”

“In any case, the encryption industry is still a flash of flash,” Greenspan said.

Leave a Reply

Your email address will not be published.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