“Bitcoin” is very nervous! Breakdown price of $4500, down more than 76%, where the bottom line?

Bitcoin price is the highest point has fallen more than 78%, has been the breakdown of $4500.

“Bitcoin” very panic, as if the night back a year ago. From the price point of view, according to the Bitstamp data bitcoin trading platform, bitcoin prices fell to 4048 dollars, equivalent to about 2.8 million yuan, and the price is even lower than 2017 years 10 months the price of bitcoin.

According to gateio data show that bitcoin prices rebounded slightly, currently at $4749 today at 4:00 in the morning, the price of $4390. In terms of 4500 dollars, compared to the highest point of 19 thousand dollar fell more than 76%.

In 2017 8 months late, bitcoin prices continue to rise, and reached 30 thousand yuan each, a price for the first time, until October, stable above 30 thousand yuan. According to the Internet financial news, OKCoin coins for data show that in October 10, 2017, bitcoin reached 31 thousand yuan.

In the same year in September 4th, the central bank and other seven ministries issued “on the issue of financing risk prevention token notice”, called ICO (for the first time, the financing requirements issued tokens) within the territory of Chinese tokens and virtual currency transaction to make the comprehensive rectification work, and said the issue of financing tokens is essentially unauthorized illegal public financing behavior, all kinds of the issue of financing activities shall immediately stop the token.

A Beijing Internet financial risk special rectification work leading group office of the “Beijing area virtual currency trading places remediation clean-up requirements” is also clear that the market place at the latest 15 24 9 months 2017 years ago announced the final clear stop time of all virtual currency transactions, and announced to immediately stop the new user registration.

9 month 14 day, 15 day, 3 large bitcoin trading platform has announced that it will stop bitcoin transactions. With the termination of the RMB against the digital asset trading, RMB market share will continue to decline, until reduced to 0. But in this process, the virtual currency transactions and for the suspension, and the price is skyrocketing.

According to the seven news network reported earlier, in December 7, 2017, according to the London CEX.IO bitcoin trading platform, bitcoin prices have topped $15000, about 100 thousand yuan. South Korea bitcoin trading platform bithumb also showed that the platform bitcoin prices have exceeded $14500.

At the same time, the price of bitcoin and other virtual currencies also presents a “roller coaster” state. Bitcoin prices fell to $11000 $16000 from only 24 hours, days up to 25%-35%, also rose more than 10% daily gain.

In January 31, 2018, according to Bitstamp, Bithumb and many other trading platform, bitcoin price below $10 thousand, around $10 thousand and 70. Previously, bitcoin rose to the highest price of $19 thousand.

According to Bitstamp data, bitcoin prices in January 2018 from a high of $19 thousand cut to $10 thousand. Only on that day in January 31st, bitcoin prices fell nearly 10%, price of about $10 thousand and 100. In February, bitcoin prices have dropped 6000 dollars, still preserved the downward trend.

“Financial Times” reported in February 4th, according to the virtual currency regulation continues to overweight, according to domestic and foreign ICO and virtual currency transactions, will take a series of regulatory measures, including banning commercial presence, banning and disposal of domestic and foreign virtual currency trading platform website.

The Internet Financial News reported that this year 3 month 9 days, said the central bank governor Zhou Xiaochuan on issues related to Chinese and foreign reporters to answer questions when the central bank does not currently recognize bitcoin is a virtual currency as the payment tool, there is no recognition of virtual currency as the payment tool. The future regulation will be dynamic, depending on the test results.

With bitcoin prices in the doldrums, many virtual currencies have been lost. A report by the U.S. technology blog TechCrunch said, as of June 30, 2018, more than 1000 encryption currency has “death”. According to the Internet financial news, as of now, bitcoin price is the highest point has fallen more than 76%, has already cut.

In September 7th, the national Internet financial security technology expert committee released the 2018 August monthly dynamic industry chain block. The report shows that in recent months, bitcoin prices showed a low volatility state. In August, the highest bitcoin market capitalization of $133 billion 500 million, the lowest value of $106 billion 400 million, the amplitude of nearly 30%.

Regulation, in November 16th, the Commission announced that the first issue of financing for tokens (ICO), the civil penalties among them, 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.

In November 1st, the Hongkong Securities Regulatory Commission issued new regulations for the virtual assets declaration, require more than 10% of assets (AUM) is a virtual assets of the fund, only for professional investors, sales, investment funds and any virtual assets brokers need to register securities. According to the statement, Hongkong plans to conduct a “sandbox” management of the exchange.

Analysts believe that the decline in the price of bitcoin, bitcoins and cash (BCH) “hard fork” deep association. One analyst said, bitcoin cash (Bitcoin Cash, BCH) bifurcation event is the money market hard encryption crash fuse, bitcoin prices will continue to fall more than 70%, to $1500.

It is understood that 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. At present, the price is not known, where is the bottom line. (text / Liu Xinyu)

Source: Internet Financial News Center

Note: the article does not constitute investment advice, please indicate the source.

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