Bitcoin hard bottomed out, prices fell below 4100 U.S. dollars a year low

(original title: Bitcoin plunges as much as 16% to below $4100, a new low for the year)

NetEase Francisco 11 Sept. 21, according to CNBC website reported this week, bitcoin is still difficult to see.

According to the encryption currency tracking website CoinMarketCap.com data show that the United States time on Thursday, bitcoin prices fell up to 16%, a monthly 9 2017 30 since the lowest level. In the past 24 hours, bitcoin fell to the lowest price of $4076; in the past seven days, the market value of a total loss of about 30%.

In the United States Tuesday afternoon trading, bitcoin fell decline, the decline was reduced to about 7%. The blockchain media CoinDesk data show that bitcoin in the past 24 hours fell 12%, the transaction price of nearly $4299.

Before the crash, bitcoin as the world’s largest and most well-known encryption currency, once a few weeks the price showed rare stability. Although in October this year, the global stock market volatility, but bitcoin transaction price stabilized at around $6400 — a change in volatility earlier this year. This year, the total market value of bitcoin lost 65%.

Thanksgiving last year, soaring appeared bitcoin epic, which became known to every family. But compared with the time, the price of bitcoin has dropped more than 40%. At the end of November last year, bitcoin prices topped $10000 mark, then, with the large number of retail investors into two regulated exchanges and prepare for the launch of bitcoin futures market, the price rose to nearly $20000 in one week before christmas.

Influence of negative emotions

This week, bitcoin investors may feel the impact of the decline in other global markets.

The United States Tuesday, Securities Research Company Fundstrat Global Advisors co-founder Tom Lee (Tom Lee) said in an interview with CNBC: “at present, the global market is very fragile, now fear and other emotions play a very large role. But does this mean that the bitcoin crash? The answer was No. The use case is still there, but in the short term, the panic still exists.”

For some traders, earlier this week, bitcoin price is less than $6000 and some other key indicators of the level, has triggered a “stop” may exacerbate them to sell bitcoin behavior. Tom Lee said, with the deterioration, bitcoin prices may continue to decline.

He also pointed out that last week, the SEC for multiple encryption of monetary items of law enforcement, also caused the price of bitcoin the crash. As a part of legal action against currency regulation and widespread fraud and abuse of the encryption industry, the SEC announced Friday, filed a civil lawsuit for the first time several founders of encryption currency.

The encryption money market manipulated reports also increased the negative investor sentiment. Bloomberg News reported on Thursday, a person familiar with the situation, the U.S. Justice Department is investigating, during a period of rising bitcoin prices last year, if someone uses another called TEDA currency (Tether) encryption to drive up the price of bitcoin currency.

Tom Lee Morgan (J.P. Morgan) Datong former chief equity strategist, he pointed out that with some other analysts, bitcoin cash “fork”, namely bitcoin for both versions: “bitcoin ABC” and “SV bitcoin”, affected the broader encryption currency market.

The well-known encryption currency analyst at investment firm BKCM, founder and CEO Brian Kelly (Brian Kelly) pointed out: “‘bitcoin ABC’ and ‘SV bitcoin’ hash war continues to affect the market. In order to win this battle, both sides seem to sell bitcoin, to obtain funds to support the business.” (Liu Chun)

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