Cryptocurrency

24/11/18 19:00 UTC-4

Bitcoin drop below $ 4000. Reasons for the fall

Reasons for the fall of Bitcoin. Now below 5000 dollars
Reasons for the fall of Bitcoin. Now below 5000 dollars

At this moment bitcoin rate is below $ 4 000.

The rate of Bitcoin at the time of Tuesday November 20 fell below the level of 5 thousand dollars. Today, BTC, on average, is tradingTrading
– is an economic term that means the process of independent trade, independent analysis of the market and the conclusion of trade transactions.Details
at $ 4 500.

The total level of capitalization of the crypto-market over the past 24 hours has declined by more than 3 034 billion dollars. Now, according to the Politeka information agency, the total capitalization of the cryptocurrency market amounts to no more than 183 218 billion dollars.

In addition, daily trading volume increased due to the quick sale of crypto-assets by traders. According to CNN, the increase is about 4.5% (which is $ 0 603 billion more than the previous figure).

Regarding Bitcoin (BTC), the level of its capitalization in the last day fell to 96 870 billion dollars.

 

According to data from cryptocurrency exchanges:

  1. On Bitfinex: the BTC-USD trading pair is trading at $ 4,411.5;
  2. On Localbitcoins: BTC-USD at $ 4,031.60;
  3. On Bitkonan: BTC-USD at $ 4,364.43;
  4. On KrakenCAD: BTC-USD at $4007,84.

 

The reasons for the fall of the cryptocurrency market, and Bitcoin in particular, are considered by most financiers and traders to be Bitcoin Cash hard forkFork
– is the intentional use of one code base of a software project to start another. That is, changing the blockchain code to split it into two.Details
, which took place on November 15, 2018, and is now represented by two forks – ABC and SV. The teams of the developers of the two forks speak very negatively about each other. This situation can be considered the beginning of this information war. According to experts, it was this discord that caused the rapid fall in capitalization of the crypto-market.

 

Opinions of experts-traders, financiers, investors for the Coinspot.io information service:

"The sharp fall, at least in part, is explained by the cascading liquidation of positions on problem exchanges that are optimized for this mechanics. It's all about cryptocurrency volatilityVolatility
– is a financial term that means a statistical indicator of price change. In the cryptocurrency world, it is used by traders as an indicator for managing financial risks. That is, it is a measure of trade risk and as a financial analytical tool for gambling. Details
." – 
Nick Carter, trader, financial analyst, Castle Island Ventures partner.

 

"I assume that the fall in the rate and capitalization is closely related to "backstage" regulatory measures to which we (...) are simply not implicated, for example, events in South Korea and infringement of crypto-platforms by the authorities (...) Do not forget about hard forks, now there are ABC and SV. It also negatively influenced the development of the cryptocurrency market." – Preston Byrne, trader, financier, blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details
lawyer.

 

"(...) "hero of the occasion" – Bitcoin Cash, whose hard fork at Bloomberg, is called the cause of the events. Today, he has almost disappeared from the arena of the crypto industry. Now his forks - ABC and SV, become the object of close attention." – Olga Porokhova, finances "International Financial Center".

Editor: Yuliya Soroka

See also: "The cryptocurrency market has lost more than 14 billion dollars in the last 24 hours"

#btc #exchange #bitcoin #course #expert opinion

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