Ethereum and Litecoin plunge as bitcoins fall – here's why

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the bitcoin sell-off is back, hitting all major coins, including Ethereum, Litecoin, Ripple's XRP, Bitcoin money and EOS, while the $ 6 billion value is wiped out of the global cryptocurrency market capitalization over the weekend. end, according to the CoinMarketCap trading data site.

The price of bitcoins is down nearly 5% this morning over the last 24 hours, but it is about to fall below the psychological bar of $ 3,500. Investors and traders continue to worry for the future of the main cryptocurrency while a bear market announces. hang out well in 2019.

Ethereum who had to undergo a highly anticipated upgrade last week before being delayed, fell by some 6% as investors implemented the decision to postpone the so-called hard range until February 27th.

The Constantinople upgrade was suddenly canceled last week, just one day before it went into service, after a security researcher discovered a bug in the software that could allow attackers to steal funds.

The fork, which differs from most other cryptocurrency rangeswill reduce the rewards for miners from three to two per block, and should help reduce inflation and stabilize Ethereum.

The Ethereum upgrade to Constantinople is also part of his move to a consensus algorithm for proof of the stake later this year, based on the evidence of more energy-hungry work than it is. currently using.

This is not the first time the upgrade has been delayed: it was originally scheduled to come on stream in November of last year, but plans have been distorted due to network bugs.

Ethereum has lost 80% since its record highs of crypto-winter, which wiped out the sector last year, wrecking some $ 700 billion in the cryptocurrency market. Investors are thought to have been cold feet waiting for & nbsp;long-awaited institutional investment in the sector.

"We are currently seeing the effect of a sluggish market: the general noise of feelings is fading away, so that individual chip evolution is attracting more attention," Mati Greenspan, Senior Market Analyst at eToro Broker, said last week.

Many bitcoin and cryptocurrency enthusiasts hope that the price of bitcoin, as well as other major digital tokens, will eventually recover.

Marcus Hughes, a UK lawyer for Coinbase, a San Francisco-based provider of wallet and exchange services, said he expects this year will mean big changes for the regulation of bitcoin and cryptocurrency around the world.

"From here a year or two, we will see great developments," Hughes said in an interview. "The regulation will take shape this year, especially in Europe."

Elsewhere, Binance, based in Hong Kong, the world's largest trading market for bitcoins and cryptocurrencies in transaction volume, said it was "overwhelmed" by listings for its new Jersey-based trading platform, that the chief executive of the stock exchange, Changpeng Zhao, has respected "crazy" asks.

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The sale of bitcoin is back, affecting all major coins, including Ethereum, Litecoin, Ripple's XRP, Bitcoin Cash and EOS, while the $ 6 billion value is cleared from global market capitalization cryptocurrency this weekend, according to the CoinMarketCap trade data site.

The price of bitcoins is down nearly 5% this morning over the last 24 hours, but it is about to fall below the psychological bar of $ 3,500. Investors and traders continue to worry for the future of the main cryptocurrency while a bear market announces. hang out well in 2019.

Ethereum, which is expected to undergo a much-awaited upgrade last week before its postponement, fell by around 6%, as investors made the decision to postpone the so-called hard fork until 27 February.

The Constantinople upgrade was suddenly canceled last week, just one day before it went into service, after a security researcher discovered a bug in the software that could allow attackers to steal funds.

The fork, which differs from most other cryptocurrency ranges, will reduce the rewards paid to miners by three to two per block, and should reduce inflation and stabilize the Ethereum.

The Ethereum upgrade to Constantinople is also part of his move to a consensus algorithm for proof of the stake later this year, based on the evidence of more energy-hungry work than it is. currently using.

This is not the first time that the update is delayed, it was originally scheduled to come on stream in November of last year, but the plans were derailed due to network bugs.

Ethereum is down 80% since its record highs of crypto-winter, which delighted the sector last year, wrecking some $ 700 billion in the cryptocurrency market. Investors are thought to have been cold, waiting for long-awaited institutional investments in the sector.

"What we are seeing now is the effect of a sluggish market – the noise of the general opinion has faded, which has attracted more and more attention to the evolution of tokens, "said last week Mati Greenspan, Senior Market Analyst at eToro.

Many bitcoin and cryptocurrency enthusiasts hope that the price of bitcoin, as well as other major digital tokens, will eventually recover.

Marcus Hughes, a UK lawyer for San Francisco-based wallet and encryption provider San Francisco, said he expects this year to see big changes in the regulation of bitcoin and cryptocurrency. in the world.

"In a year or two we will see big developments," said Hughes in an interview. "The regulation will take shape this year, especially in Europe."

Binance, the world's largest transaction-based cryptocurrency and cryptocurrency exchange based in Hong Kong, said it is "overwhelmed" by listings for its new Jersey-based trading platform, that the general director of the stock exchange, Changpeng Zhao, has criticized "crazy" request.