Source: Photo Network
On the weekend of bitcoin investors is not so easy. According to the encryption currency tracking website CoinMarketCap statistics, under the last week has been battered, bitcoin Sunday (November 25th) tumbled more than 15%, down to the level of $3601.52, a record of encryption currency to its lowest level since September 2017.
Even after experiencing huge losses, OANDA Asia Pacific Business Director Stephen Innes (Stephen Innes) said, have not seen there is strong evidence that the market will bottom out. “There are still a lot of game player in the game,” Innis told Bloomberg reporters last week said, “if we begin to see the price dropped to $3000, this thing (encrypted currency) will become a monster, people will run to the exit”.
The currency fell collective encryption
As of November 26th Beijing time 7:20, bitcoin recovered slightly decline, the price back above $4000, $4008.67.
The “daily economic news” reporter access to CoinMarketCap data, last week encryption currency through the darkest one week. Bitcoin last week fell 28%, this year has fallen by 71%, nearly a year before the peak of $19656 fell 80%.
In addition, reboxetine currency (XRP) in November 25th fell to 35 cents, nearly 90% lower than it was at the peak, Beijing time 7:20 on the 26, XRP price reached 0.3758 cents, approaching 26% decline last week. Look at the etheric coins (ETH), at the same time the price of $115.66, compared with last Monday (November 19th) opened at $175.98, fell over 34%.
The recent recession began in the crypto currency 11 in mid August, when bitcoin below $6000 for the first time. And since then, the world’s largest encryption currency record low, then the price has been difficult to break through the $4000 range, and in the last week, has hit a low, fell below $4000.
Compared with the stable performance of 10 month surprising, bitcoin 11 month decline down is a significant reversal. After a year of turmoil, the currency has been encrypted easily at around $6400 transactions, but the U.S. stock market over the same period in 10 months had a dark and difficult period of time.
Why the sky fell
Last week at the Bloomberg News reporter in a telephone interview, OANDA Asia Pacific Business Director Stephen Innes predicted that this year at the age of 10 bitcoin short-term trading price fluctuations between $3500 to $6500, but is likely to fall to $2500 in January next year.
According to “the Wall Street journal” reported on November 25th, Ohio will become the first to accept the digital currency tax state. The paper said that Ohio enterprises can be registered in OhioCrypto.com to pay sales tax. “I do think (bitcoin) is a legitimate form of currency,” Ohio’s finance minister Qiao Xi Mandel (Josh Mandel) said, adding that he hoped that other states will follow.
The price of money recently frustrated by the strong pressure of encryption and regulators are inseparable. According to CNBC reported earlier, the U.S. Securities and Exchange Commission (SEC) in November 16th reached with the two encryption currency company reconciliation, this is the first time for the first time issued tokens (ICO) registered civil penalties for violations.
In November 16th, SEC announced that the founder of encryption failed to register the new crypto currency products for the first time civil penalties. SEC said it has with startups Airfox and Paragon respectively reached a settlement, the two companies in the unregistered products in their respective initial encryption money raised more than $1000 million. SEC said the two start-up companies have agreed to pay a penalty, and the registration of securities and tokens, will be submitted regularly to the agency report, will also put money back to any damage to the investors.
In addition, according to Bloomberg News reported on November 20th, the U.S. Justice Department is investigating whether bitcoin last year 1300% of the increase is the result of market manipulation. According to the 3 informed sources told Bloomberg, although a few months ago, federal prosecutors launched a criminal investigation of encryption currency widely, but recently they have been suspected, involving a bitcoin, Tether and encryption currency trading platform Bitfinex network could be used to perplexing the illegal price change.
On the other hand, 11 15 April, bitcoin cash (BCH) secondary to BCH hard bifurcation, community face split situation.
More than that, in mid November the chip maker NVIDIA’s shares have been hit, Creative Planning co chief investment officer Peter Maruk (Peter Mallouk) said on Bloomberg, NVIDIA shares fell a symbol of digital currency fueled demand is fading, Maruk think this is the early warning information encryption currency.
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