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The cryptocurrency crisis of 2018 is heading towards the worst week of its history.
Bitcoin dropped to $ 4,000 and most other cryptocurrencies collapsed on Friday, adding to the dollar's decline. Bloomberg Galaxy Crypto Index at 25%. This is the worst series of five days since the cryptomania summit in early January.
After an epic rally last year, which overcame many of the most famous bubbles in history, crypto – currencies are in free fall. nearly 700,000 million US dollars showing little sign of decline. Many of the fears that caused the collapse of 2018 – such as disagreements within the digital currency community and the chaos of the market – only intensified last week. Despite losses of more than 70% for most virtual currencies, Stephen Innes of Oanda Corp. has not yet seen evidence of a capitulation that could constitute a market fund.
"There are still a lot of people in this game," he told Bloomberg Innes, chief negotiator for the Asia-Pacific region of Oanda, Singapore. If the bitcoin "collapse, if we start to see a wave of sales reaching $ 3,000, it will be a monster, investors will rush to the exit." The economist said he wants to issue UVA bonds abroad. This is because in the future it will not be possible to finance with Treasury Deposits. Believe that inflation will slow down quickly
Innes said his supposed base was a bitcoin quote of between $ 3,500 and $ 6,500 in the short term, with a potential drop to $ 2,500 in January. Other currencies such as Ether, Ripple and Litecoin declined by 4.8%. The market value of all cryptographic currencies tracked by CoinMarketCap.com has been reduced to US $ 138,000 million from a high of US $ 835 million in January.
