Why bitcoin less than a year has dropped to 70%, 1 from the $1000 how far?

Abstract: according to the virtual currency market authority Coinmarketcap statistics, in November 15th, the global digital encryption currency overall market value fell below $181 billion, hit a new low since last October 31st, 24 hours lost more than $30 billion, bitcoin fell below $5700, 24 hours fell over 11%. Following the money, threatening to destroy the bit after long term “Nakamoto” as Craig Steven Wright (Australian person “Macao Satoshi”) tweets said, put the price of BTC to $1000 in 1. What’s going on?

2018 the entire money market open mode encryption crash crazy. Just a few days ago, bitcoin after several days of weak finishing did not stop the tide, not only the breakdown of the $6000 milestone, is below $5700. 6000 dollars is considered bitcoin historic juncture, bitcoin can withstand the pressure related to the revaluation of bitcoin market, the currency value to consider encryption.

Since the beginning of the second half of 2018, has been sideways a few months bitcoin suddenly plummeted, prices topped $6000 mark, the lowest price of $5544. At present, bitcoin hovering in the $5700 level. Compared to nearly $20000 in December 2017 highs fell to about 70%. So, why bitcoin less than a year fell 70%, how far away from the 1 1000 dollar will?

Goldman chief investment officer Sharmin Mossavar-Rahamani is clear: “we expect to maintain the current encryption currency will not have value. In fact, the encryption speed of monetary value shrinking much faster than we expected. We believe that the three traditional encryption currency cannot realize the currency role is neither a medium of exchange is not measured, nor stored value. Because of this, we expect that cryptocurrencies will fall further in the coming. “

Dinodon rufozonatum (REDchain) senior analyst Jeff deGraafd blockchain also said: “in short, when the market trend to form a risk is a high. Usually when the price reaches the top, the price trend will decrease with volatility until almost no, a descending triangle formed in a few months. Once the top is completely below the support level, it will form a permanent damage, and even lead to the end of the game “”.

More importantly, long-term to Nakamoto as Craig Steven Wright (Australian person “Macao Satoshi”) released tweets, BTC to the miners taking a loudspeaker: if you switch is to dig BCH, we can change BTC into dollars to pay the cost. We think that BTC has no room for profit, it will sell a large number of BTC, BTC prices will drop to $1000. Therefore, bitcoin how far away from the 1 pieces of 1000 dollar will?

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