Bitcoin staged the debacle

Below the slumped $5000, since this year has dropped to 70%

The recent slump in bitcoin once again sparked concern. Below the $5000 mark after the November 20th day bitcoin again sell-off fell below $4300, its lowest level since October 2017, then rose to near $4400. Bitcoin crash also spread to other digital currency, 10 digital currency mostly showed double-digit decline.

Digital currency erased $660 billion

Collapse of bitcoin round began last week, on Wednesday, the day of bitcoin prices fell from $6260.9 to $657.2 or 10.51% to $5597.8.

This Monday, bitcoin plunged 14.26% in 24 hours, down to $793, especially Tuesday morning, bitcoin in just a few hours, continuous below $5000, $4900, $4800, $4700 four mark integer.

On the day of bitcoin slumped again, fell below $4300, hit a low of $4237.1, compared with last year’s 12 month high of $19666 fell to 78.45%. At the same time, compared with the end of last year, 13880.01’s closing price of $69.46% decline this year, bitcoin prices have fallen to about 7.

Other mainstream digital currency is also affected by the bitcoin fell. Nearly a week of time, coins, coins, etheric Gerbaud Wright currency were to fall. According to CoinMarketCap.com statistics, since last week, accompanied by a relatively quiet break bitcoin began to fall, and other mainstream digital currencies pudie. The whole digital currency market in the past week to erase at least $40 billion, less than $168 billion on Monday. From January this year highs, digital currency overall market value of at least $660 billion.

Bitcoin will continue to fall?

Bitcoin encryption digital currency bitcoin collective slump, and in 11 15 April 2 hard on bifurcation. Bitcoin in May 2018 completed the first hard branch, the development team reached a consensus in the branch, did not produce a new currency bifurcation. In essence, bitcoins for other digital encryption currency greatness through hash collision, created a scarcity of supply. But other digital encryption currency every branching time, expansion of several times, will lead to scarcity is getting worse.

The market worried about the decline of the bitcoin market. In the long run, the recent hard BCH bifurcation event, will bring the negative influence to the whole encryption market. Analysts believe that the BCH bifurcation is a matter of hard encryption currency market crash fuse, the bear market will continue. This downward trend will become more serious. Even expected bitcoin prices will continue to decline in the rate of 70%, fell to $1500.

Digital currency is also facing tighter regulatory issues. U.S. regulators last week forced two in 2017 to raise funds through the issuance of a crypto currency company to return cash to investors.

(source: Shenzhen daily)

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