Because pessimism persists after bitcoin below $6000 in currency for a week, yesterday plunged below $5000 12.83%, mark, at $4720. In the past 7 days, bitcoin fell over 22%; this year tired fell more than 60%; compared with the all-time high of more than 70% fell tired.
The Singapore futures brokerage firm Oanda Asia Pacific Trading director Stephen Innes said bitcoin is still bearish, “a long time from the firm perspective, the rise of regulators and the banking system will continue to resist the virtual market”.
Low except for the coins in the same week, crypto currency fell a few months to the. The ether currency plunged 16.11% to $149, a record low of 16 months; Wright currency plunged 14.14% to $35.69; reboxetine currency fell 4.33% to $0.489.
According to CoinMarketCap data show that the total value of digital encryption currency has dropped to $171 billion, a decline on Friday more than $10 billion.
The collapse of fear has just begun! Bitcoin could fall to $1500?
According to Bloomberg, with virtual currency collapse began to ferment, bitcoin prices will fall further. Bloomberg information said, bitcoin prices probably fell to $1500, 70% market capitalization will evaporate.
Only in the last week, bitcoin fell 12%, fell to its lowest level in more than a year, has dropped to its market value this year has dropped more than 60%. Many other encryption currency including Wright currency fell together.
Bloomberg quoted Ikigai hedge fund founder Travis Kling said he was sad to “up all night”, guess some really bad things might happen.
Bloomberg intelligence analyst Mike McGlone warned that the decline is likely to get worse.
Analysts believe that bitcoin cash (BCH) will usher in the “hard bifurcation of bitcoin’s recent collapse causes. In November 16th 00:40, bitcoin cash community ushered in a round of hard branch, divided into Bitcoin ABC and Bitcoin SV.
This hard bifurcation initiated by long-term self proclaimed Nakamoto Australian Craig Steven Wright, he is the main BCH and BCH loyal defenders within the community dispute between the CEO bit, Wu Jihan.
It is reported that, at present by the encryption currency market plummeted, the world famous manufacturer NVIDIA graphics also presents the recent price decline, the market value of the evaporation of $23 billion, which is equivalent to a AMD value.
Creative Planning, chief executive officer, chief investment officer Mulock (Peter Mallouk) said in an email, NVIDIA shares reflects the market for the future encryption money demand is expected to decline. Of course, this is bad news for NVIDIA, for bitcoin and other encryption currency, the warning function as the “canary in the coal mine”. (source: global network exchange)
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(source: smart Finance)