Bitcoin Sunday fell below $3500 since September 2017 hit a new low

[TechWeb] November 26th news, according to foreign media reports, bitcoin has just experienced a difficult weekend. According to CoinDesk data, after the bitcoin last week of major losses in Saturday’s decline is was as high as 10%, created a low of $3447.58, which is the lowest level since the 9 month bitcoin since 2017 years. Then about 6:00PM EDT, bitcoin prices recovered to about $3945.

According to CoinDesk data, in the past seven days, bitcoin has depreciated more than 35%. Bitcoin also fell 44%, created since the biggest weekly decline since April 2013.

Bitcoin round down began in the 11 month, when bitcoin suddenly for the first time below $6000. Since then, the world’s largest encryption currency has been on the lookout for new lows, eventually fell below $4000 mark.

Significant loss of bitcoin in November compared to October, stable price is beyond all expectations. When the major U.S. stock market volatility led to bitcoin has experienced a year of volatility, which has been easy to maintain range trading at $6400.

After Thanksgiving, around bitcoin sentimental mood changes. Thanks to a new wave of retail investors, bitcoin just taste it before cooking.

According to CoinMarketCap.com data, through the weekend’s loss, bitcoin prices fell by more than 75% so far this year. The main square is XRP and Ethernet encryption currency declined by up to 12% and 9% respectively.

These lower lows is the key point of some export traders. While bitcoin fell below the $4000 mark may lead to “stop loss” mechanism, which is a trader predetermined transaction level, below this level often exacerbated the sell-off. Since bitcoin fell to new lows, it will break the bitcoin support level.

In recent weeks, the encrypted currency supervision hit and so the price pressure. The United States Securities and Exchange Commission announced last week, the first civil penalties for encryption currency founder, as part of the industry wide regulation and laws against fraud and abuse efforts.

Last week, Bloomberg News reported that regulators are investigating bitcoin last year rose to nearly $20000 is the result of market manipulation. Informed sources revealed that the U.S. Justice Department is investigating the controversial digital currency tether, its founder, said it received $1:1 support, each USDT unit has a $1 storage in the company owned bank account. The money is used to manipulate bitcoin traders price.

In this regard, Tether Chief Compliance Officer Leonardo Real said Bloomberg reported citing a study has not been independently confirmed, the studies are based on an assumption that USDT is not supported, if the USDT is not supported, it may indicate that bitcoin price manipulation, but USDT has always been at the transaction currency transactions before encryption 2, USDT trading is not driven by the needs of the argument is ridiculous. (compile / open)

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Source: TechWeb.com.cn

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