The fate of Thanksgiving reversal, bitcoin fell below $5000 mark

The world’s largest bitcoin currency – Encryption in intraday trading on Monday fell below the $5000 mark, fell to its lowest level in more than a year. According to CoinDesk data, bitcoin prices hit $4951.47 a year low of the past 7 days, the cumulative decline of more than 18%, this year fell more than 62%.

After several months of relative calm in the market after the digital currency liquidity cycle began to increase. Other types of assets due to global market sell-off since last Thanksgiving since the encryption currency is now down more than 30%. The two Thanksgiving Day, bitcoin’s fate is entirely different.

Bitcoin at the end of last November for the first time exceeded $10 thousand, in December last year before they rushed to nearly $20 thousand in high. Then coincides with the launch of bitcoin futures for 12 months, making bitcoin sought after degree further, almost become the best choice for retail investors “overnight”.

But to this Thanksgiving, whether or bitcoin bitcoin futures have reached the lowest level this year. Bitcoin CME futures fell to $5015, while the bitcoin contract fell to $4990 on the Chicago board options exchange.

At the same time, other major currencies were mostly lower encryption, according to CoinMarketCap data, reboxetine currency (XRP) fell 5% Monday, while Ethernet square declines over 10%. Over the past week, the total market value of crypto currency family has lost nearly 400 billion dollars.

Bitcoin analysts will continue to sell and support the market stops due to execution of technology, which makes bitcoin days easily fell to nearly 1000 dollars. EToro analyst Marty (Mati Greenspan) said in a report: “bitcoin under a reasonable support level is $5000, if this support will fall, then bitcoin will probably ran a $3500 support level continued to fall. Branch cash derived from bitcoin: bitcoin ABC “and” bitcoin SV “is to increase the encryption currency market uncertainty.”

The constraints of bitcoin series key encryption currency price point is its supervision problem. The United States Securities and Exchange Commission (SEC) on Friday for a project for the first time to implement illegal encryption monetary civil penalties for non-compliance, to honor the crypto currency project supervision commitment, while countering digital currency fraud and abuse of power industry. In the SEC classified in the category of bitcoin currency and etheric do not belong to the scope of the securities, but there are some other digital encryption currency securities, SEC will use the relevant securities law on the regulation of these belong to the securities of digital encryption currency. A judge whether the assets securities standard is reasonable to expect it a way of sale and buyers of it. If there is a center of the third party in the operation of the digital encryption currency, buyers also look forward to return to the digital encryption currency could be securities.

At the same time, the European Central Bank Executive Committee on selling attitude of encryption currency also led the market to accelerate the bitcoin. The European central bank executive Corey (Benoit Coeure) believes that bitcoin is the “bubble, Ponzi scheme and disaster combination”, he said: bitcoin is a very clever idea. Unfortunately, not every idea is a good idea, in many ways, bitcoin is the catalyst of the financial crisis.”

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