Bitcoin has plunged to 2018 year low, which leads to the encryption of money market crash, investors and analysts may lead to the decline of the factors become more and more interested in these factors is not only the issue of emissions trading and selling pressure increased.
Bitcoin, the current price is $3800, a slight recovery than last weekend. The price of bitcoin last weekend in 2018 fell to a new low. At the level of bitcoin fell, bitcoin has rebounded sharply to a peak of $4100, then fell to $3600, $3600 and area may become the new BTC support.
The bitcoin market fell by the impact of There was no parallel in history. cryptocurrencies throughout, many encryption currency 2018 hit a new low, such as bitcoin cash (BCH), the current trading price of $180, and Etherum, the current trading price of $109.
What is the cause of bitcoin fell?
In 2018, the world’s largest encryption software sales decline, has far exceeded the pure market cycle, with industry before major events (including the 2014 Mt. Gox was hacked) caused by the decline in sales of rival.
So some investors and analysts believe that the factors causing a sharp decline in the market may have two:
Since bitcoin cash civil war, resulting in a crypto currency industry polarization, before the BCH bifurcation, caused many investors lost a lot of money, thus reducing the market sentiment and investor interest. Bitcoin hash rate of decline may be another cause of the price drop, as it descends, so is the price.
Although the bitcoin price is low, but the bear seems endless, but investors should remember that some upcoming events may reverse the market, including the launch of Bakkt 1 and 2019 at the beginning of the end of the month, the ruling SEC of VanEck/SolidX bitcoin, ETF.