Fiscal union November 25th hearing, Bitstamp platform, bitcoin prices fell below $3700, at $3693 / piece, continue to refresh the lowest since September 24, 2017.
Since 2018, bitcoin prices began to fall, especially staged “diving” in the near future, 11 month 20 day, bitcoin fell more than 16%, below $4100, the lowest level since the last 10 months. Bitcoin crash, also led to other encryption currency fell sharply. CoinMarketCap data show that the current market value of encryption currency has dropped by about 150 billion dollars, at the beginning of this year and $850 billion when compared to the scale of serious shrink. Market volatility, caused people to “encrypted currency can be reliable hedge”.
Insiders believe that the bitcoin crash is the result of many factors together. First of all, the large block chain project there is a serious bubble, in block chain infrastructure are not perfect, the market is expected to continue to push practitioners highly unrealistic, eventually encounter real combat, resulting in the continual loss of market confidence; second, bitcoin market is due to the capital market, and the volume is relatively small, but also the global digital currency market a listed Internet giant volume, with large cash users zapan, also easy to cause sharp fluctuations in currency prices; third, is the industry the recent war, has shaken the confidence of the people in the objective, makes some people panic and vote with their feet, due to market volatility.