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The markets for bitcoins and cryptocurrencies collapsed this weekwith the price of bitcoin is falling off a cliff.
The price of bitcoin has dropped about 15% as a result of an upset sale on Tuesday, drag the wider market of bitcoin and crypto and catch the traders, who had hoped that the much anticipated launch of Bakkt's cryptographic platform would give bitcoin a boost, off guard.
Now, Facebook's general manager, Mark Zuckerberg, has revealed his cryptocurrency, which is largely credited with the bitcoin bull race sparkling earlier this year, may not be launched in 2020, as previously planned.
Mark Zuckerberg of Facebook has warned that his Balance-Bitcoin-rival project might not be launched next year … [+]
"It is obvious that we want to go forward at some point and that it will not take many years to be deployed," Zuckerberg said. Nikkei Asian Review, a Japanese economic newspaper. "But for now, I'm really focused on doing things right."
Facebook's balance has been met with opposition all over the world, while countries, including India, France and the United States, warn that it will weaken their national currencies. with US President Donald Trump, launching a lightning attack on Libra, bitcoin and crypto earlier this year.
Bitcoin traders and investors have been closely following the evolution of Facebook's balance, which has been adopted as a sort of regulatory regulator of cryptocurrency and a tacit endorsement of the underlying blockchain technology of Bitcoin.
"Many people have had questions and concerns, and we are committed to making sure we work on all of these issues before we go forward," added Zuckerberg.
The price of bitcoin fell further yesterday, dropping by about 5% and falling below the psychological threshold of $ 8,000 per bitcoin.
Bitcoins in cash, an offshoot of Bitcoin, drove the cryptocurrency market down, recording losses of more than 5% for the day and bringing its weekly decline to nearly 30%.
The sale of bitcoin comes after the muted launch of the Bakkt cryptographic platform of Intercontinental Exchange, owner of the New York Stock Exchange, unveiled last year and bringing together among its partners the giant Microsoft software and the Starbucks coffee chain.
Bakkt's platform allows traders and institutional investors to exchange so-called "physically" settled bitcoin futures, which means traders and investors are not able to sell more bitcoins than they do at home. They actually do, but that the total number of transactions is already high at 72. first day, compared to more than 5,000 traded on the first day of the cash settled futures contracts. CME, & nbsp;launched at the top of bitcoin-mania in December 2017.
"Bitcoin staged a brief recovery yesterday but is again below $ 8,000, currently trading at $ 7,990," said Marcus Swanepoel, general manager of cryptocurrency and cryptocurrency trading. Luno, in a note to traders.
"Similar losses have been recorded by all major altcoins." The loss in value is certainly a result of the global negativity of the global market, but it is thought that the market structure has changed with the launch of Bitcoin futures on Bakkt. a number of traders, to have been a contributing factor. "
The price of bitcoin fell again during the last trading period of 24 hours after a sudden sale earlier … [+]
The balance of Facebook, considered by some as a competitor of Bitcoin, is presented as a global currency, the social media giant to involve as many countries as possible.
However, the main target countries are developing countries, where banking and access to finance are weak.
Facebook and Zuckerberg, who launched the platform in 2006, are still reeling from a series of scandals over data sharing and privacy protection that have affected the company in recent years and have led to question the power of some of the largest Silicon Valley Internet companies.
"Part of the approach and the way we have changed is that now, when we do things that are going to be very sensitive to society, we want to have a period during which we can go out and talk about it, consult people and get feedback. " and solve problems before deploying them, "said Zuckerberg.
"And it's a very different approach from the one we could have adopted five years ago.But I think it's the right way for us to do that on the scale where we operate. . "
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The markets for bitcoins and crypto-currencies collapsed this week as the price of bitcoin suddenly dropped off a cliff.
The price of bitcoin lost about 15% during a surprise sale on Tuesday, resulting in the broader market for bitcoin and crypto and capturing traders, who hoped the highly anticipated launch of Bakkt's encrypted platform would give Bitcoin a boost.
Today, Facebook's chief executive, Mark Zuckerberg, has revealed that his balance cryptocurrency, widely known to have caused the rise of bitcoin at the beginning of the year, may not be launched in 2020. as previously planned.
Mark Zuckerberg of Facebook has warned that his Balance-Bitcoin-rival project might not be launched next year … [+]
"Obviously, we want to go forward at some point [and] Zuckerberg told Nikkei Asian Review, a Japanese business newspaper. But for now, I really want us to do it well. "
Facebook's balance has been met with opposition all over the world as countries, including India, France and the United States, warned that it would weaken their national currencies. US President Donald Trump launched a lightning attack on Libra, bitcoins and encryption earlier this year.
Bitcoin traders and investors have been closely following the evolution of Facebook's balance, which has been adopted as a sort of regulatory regulator of cryptocurrency and a tacit endorsement of the underlying blockchain technology of Bitcoin.
"Many people have had questions and concerns, and we are committed to making sure we work on all of these issues before we go forward," added Zuckerberg.
The price of bitcoin fell again yesterday, falling by about 5% and falling below the psychological threshold of $ 8,000 per bitcoin.
Bitcoins in cash, an offshoot of Bitcoin, drove the cryptocurrency market down, recording losses of more than 5% for the day and bringing its weekly decline to nearly 30%.
The sale of bitcoin comes after the muted launch of the Bakkt cryptographic platform of Intercontinental Exchange, owner of the New York Stock Exchange, unveiled last year and bringing together among its partners the giant Microsoft software and the Starbucks coffee chain.
Bakkt's platform allows traders and institutional investors to exchange so-called "physically" settled bitcoin futures, which means traders and investors are not able to sell more bitcoins than they do at home. They do not really, but the total number of transactions is already high at 72. first day, compared to more than 5,000 traded on the first day of the futures settled in cash of CME, launched at the height of bitcoin-mania in December 2017.
"Bitcoin organized a brief recovery yesterday but is still below [$8,000], currently at $ 7,990, "Marcus Swanepoel, general manager of Bitcoin and Luno cryptocurrency exchange, said in a note to traders.
"Similar losses have been recorded by all major altcoins." The loss in value is certainly a result of the global negativity of the global market, but it is thought that the market structure has changed with the launch of Bitcoin futures on Bakkt. a number of traders, to have been a contributing factor. "
The price of bitcoin fell again during the last trading period of 24 hours after a sudden sale earlier … [+]
The balance of Facebook, considered by some as a competitor of Bitcoin, is presented as a global currency, the social media giant to involve as many countries as possible.
However, the main target countries are developing countries, where banking and access to finance are weak.
Facebook and Zuckerberg, who launched the platform in 2006, are still reeling from a series of scandals over data sharing and privacy protection that have affected the company in recent years and have led to question the power of some of the largest Silicon Valley Internet companies.
"Part of the approach and the way we have changed is that now, when we do things that are going to be very sensitive to society, we want to have a period during which we can go out and talk about it, consult people and get feedback. " and solve problems before deploying them, "said Zuckerberg.
"And it's a very different approach from the one we could have adopted five years ago.But I think it's the right way for us to do that on the scale where we operate. . "