Bitcoin fell below $3500, 24 hours or up to 18.65%

Bitcoin below $3500 / BitMEX platform, since 2017 9 late last month for the first time, 24 hours or 18.65%.

According to the Wall Street knowledge platform, bitcoin fell below $3700.

For bitcoin late prices, Oanda Corp Asia Pacific head of trading Stephen Innes that has not yet bottomed out. Innes by phone to Bloomberg said that his basic prediction is the short term, bitcoin prices will fluctuate between $3500 to $6500, to January next year is likely to decline to $2500.

Bloomberg quoted eToro analyst Mati Greenspan said, the market value of the largest digital currency bitcoin fell $5000 support, a support or $3500. However, analysts have predicted that bitcoin could fall to $1500, more than the current level fell more than 70%.

The reason for this week encrypted digital currency collective slump, Public opinions are divergent. Among them, a large background is BCH (bitcoin cash) in November 15th second hard bifurcation. This time, BCH faces a hard bifurcation, is the essence of Craig Steven Wright (Australia is called “Macao Satoshi”) spoiler, BCH community face split situation.

Bloomberg analysts pointed out that the current round of digital currency bubble burst, origin, increase supervision of currency and exchange within the circle of confusion and fighting, the situation in this week have increased. In addition, the biggest victim of digital currency year slump is the price peaked on the occasion of the influx of this market retail, and NVIDIA provides mining chip business.

Wall Street knowledge mentioned earlier, 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 the specific landing measures, so the global banks and financial institutions are on the sidelines, waiting for regulatory action.

On Friday, the SEC SEC announced its decision the first civil penalties for token financing ICO, Airfox and Parago Coin, the two companies issued by ICO has not been registered as securities, the need to pay a fine of $250 thousand 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.

Moreover, since the 10 month 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”.

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