Bitcoin falls below $ 6,000 and reaches its lowest level in more than a year

Bitcoin, the largest cryptocurrency in the world, fell 11%, with most of the loss occurring in half an hour. Photo: Bloomberg

Portland: Bitcoin fell below the $ 6,000 mark for the first time since August and reached its lowest level in over a year, breaking with the recent tranquility of the notoriously volatile digital alternative to the currency.

The world's largest cryptocurrency dropped to 11 Other digital coins dropped by more than 17%, while smaller rivals Ether, Litecoin and XRP fell by more than 17%. Bitcoin Cash has dropped 21% while the Bitcoin subsidiary is facing its own division.

"The market is trying to find the bottom," said Michael Terpin, partner of the Alphabit fund based in San Juan, Puerto Rico. "Chartists look at historical trends and see a final fall in capitulation. to get the people flee the market. "

Some traders have speculated that investors could let Bitcoin look for funds to buy Bitcoin money after splitting by fearing that each of the new coins will appreciate.

Bitcoin dropped to as low as $ 5,549, the lowest since October 2017, or just before the surge in demand pushed it to nearly $ 20,000 in December. That's about 70% less than the record reached for ten years.

When he broke up, a year ago, Bitcoin Cash launched the craze for which dozens of software development teams were looking to generate money. ;money. [Traduction]

A group led by Craig Wright is expected to take control tomorrow of the world's fourth largest cryptocurrency after upgrading a software program. A rival faction that does not agree on the best way to expand has tried to persuade the community of computer operators operating the network to adopt their version. About 70% of so-called miners who deal with the transactions that keep the network afloat report that they support the version supported by Wright's allies, according to the Coin Cryptographic Data Tracker.