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Bitcoin, which has been remarkably stable for several months, suddenly lost more than 5% of its value, which caused the fall of other crypto-currencies, such as the ripple (XRP), the etheric, the stellar , litecoin, EOS and bitcoin. he.
Earlier this month, the price of bitcoin reached a 17-month low, but this period of calm seems to be over, as the price of bitcoin has hit a shock that has erased billions of dollars in market capitalization. minutes, according to CoinDesk data.
Shortly after the fall of the original price of Bitcoin, the group has somewhat recovered, recovering some of its lost ground. Bitcoin was trading today at about $ 6,500, the same value for two months. He briefly fell to $ 6,125, but found about $ 6,200.
The recent downward price of Bitcoin (down from nearly 20,000 at the end of last year) has been attributed to a drop in trading volume since its peak of late 2017 – a phenomenon that has hit the stock exchanges. cryptocurrency around the world, prompting some companies to cut costs and lay off staff.
A visual representation of the bitcoin of digital cryptocurrency. (Photo by Christopher Wong / S3studio / Getty Images by Yu Chun)
Brief and brutal changes in the price of bitcoin are often attributed to the fact that trading robots initiate a buy or sell order which is then taken over by third parties, causing a domino effect on price, or by self – whale-watching (large holders of a cryptocurrency or other asset) the purchase or sale of sufficient volume at a rate lower or higher than the current market rate.
This makes the price of the asset in the market change abruptly in the direction of sale, often causing havoc to market operators.
However, a study published earlier in the day revealed that often not responsible for the volatility of Bitcoin prices. The Chainalysis blockchain research company found that bitcoin whales were "a diverse group and only a third of them were active traders. And although these whales certainly have the ability to make transactions large enough to move the market, they have net traded against the herd, buying despite falling prices. "
Chainalysis has examined the 32 largest bitcoin portfolios, representing about 1 million bitcoins, or about $ 6.3 billion, for the study.
The brief period of calm of Bitcoin was suddenly interrupted.CoinDesk
Meanwhile, many investors expect regulators and the well-established financial services sector to show their cryptocurrency before deciding to withdraw or double their investments.
The United States Securities and Exchange Commission (SEC) has not yet decided to approve a proposal for exchange-traded funds under the control of bitcoin, which could open up the bitcoin investment market to a pool of fresh capital .
Many still hope the SEC will eventually approve a bitcoin ETF and also eagerly await the launch of a bitcoin and cryptocurrency platform called Bakkt, in November – created by ICE, owner of the New York Stock Exchange (NYSE), in partnership with the Starbucks coffee chain, the Microsoft software giant and the Boston Consulting Group.
At the same time, global regulators are questioning how best to limit the use of bitcoin and crypto-currencies for illicit activities and to protect retail investors from potentially high losses, while favoring emerging bitcoin industries. , blockchain and cryptocurrency.
Earlier today, the World Financial Stability Council (FSB) had declared that crypto-currencies such as bitcoin did not threaten financial stability, but had recommended further monitoring and consumer protection.
"On the basis of available information, crypto-assets do not represent a significant risk for global financial stability at the moment, however, vigilant supervision is necessary given the rapid pace of market developments," the FSB said. a statement.
The FSB's opinion comes after the International Monetary Fund (IMF) warned yesterday that the "rapid growth" of bitcoin and cryptocurrency assets could create "new vulnerabilities in the international financial system," while the world's banks would adjust to the recent boom in bitcoin and blockchain.
Earlier this week, EU regulators said custom rules may be needed for bitcoins and crypto-currencies, warning investors about the high risks associated with cryptographic assets had no significant effect.
Among the ten largest crypto-currencies, bitcoin, ripple (XRP) and stellar were the most sold during the recent rout, at the time of publication.
Bitcoins in cash, a derivative of the original bitcoin, as well as ripple (XRP) were the most sold in the rout.CoinMarketCap
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Bitcoin, which has been remarkably stable for several months, suddenly lost more than 5% of its value, which caused the fall of other crypto-currencies, such as the ripple (XRP), the etheric, the stellar , litecoin, EOS and bitcoin. he.
Earlier this month, the price of bitcoin reached a 17-month low, but this period of calm seems to be over, as the price of bitcoin has hit a shock that has erased billions of dollars in market capitalization. minutes, according to CoinDesk data.
Shortly after the fall of the original price of Bitcoin, the group has somewhat recovered, recovering some of its lost ground. Bitcoin was trading today at about $ 6,500, the same value for two months. He briefly fell to $ 6,125, but found about $ 6,200.
The recent downward price of Bitcoin (down from nearly 20,000 at the end of last year) has been attributed to a drop in trading volume since its peak of late 2017 – a phenomenon that has hit the stock exchanges. cryptocurrency around the world, prompting some companies to cut costs and lay off staff.
A visual representation of the bitcoin of digital cryptocurrency. (Photo by Christopher Wong / S3studio / Getty Images by Yu Chun)
Brief and brutal changes in the price of bitcoin are often attributed to the fact that trading robots initiate a buy or sell order which is then taken over by third parties, causing a domino effect on price, or by self – whale-watching (large holders of a cryptocurrency or other asset) the purchase or sale of sufficient volume at a rate lower or higher than the current market rate.
This makes the price of the asset in the market change abruptly in the direction of sale, often causing havoc to market operators.
However, a study published earlier in the day revealed that often not responsible for the volatility of Bitcoin prices. The Chainalysis blockchain research company found that bitcoin whales were "a diverse group and only a third of them were active traders. And although these whales certainly have the ability to make transactions large enough to move the market, they have net traded against the herd, buying despite falling prices. "
Chainalysis has examined the 32 largest bitcoin portfolios, representing about 1 million bitcoins, or about $ 6.3 billion, for the study.
The brief period of calm of Bitcoin was suddenly interrupted.CoinDesk
Meanwhile, many investors expect regulators and the well-established financial services sector to show their cryptocurrency before deciding to withdraw or double their investments.
The United States Securities and Exchange Commission (SEC) has not yet decided to approve a proposal for exchange-traded funds under the control of bitcoin, which could open up the bitcoin investment market to a pool of fresh capital .
Many still hope the SEC will eventually approve a bitcoin ETF and also eagerly await the launch of a bitcoin and cryptocurrency platform called Bakkt, in November – created by ICE, owner of the New York Stock Exchange (NYSE), in partnership with the Starbucks coffee chain, the Microsoft software giant and the Boston Consulting Group.
At the same time, global regulators are questioning how best to limit the use of bitcoin and crypto-currencies for illicit activities and to protect retail investors from potentially high losses, while favoring emerging bitcoin industries. , blockchain and cryptocurrency.
Earlier today, the World Financial Stability Council (FSB) had declared that crypto-currencies such as bitcoin did not threaten financial stability, but had recommended further monitoring and consumer protection.
"On the basis of available information, crypto-assets do not represent a significant risk for global financial stability at the moment, however, vigilant supervision is necessary given the rapid pace of market developments," the FSB said. a statement.
The FSB's opinion comes after the International Monetary Fund (IMF) warned yesterday that the "rapid growth" of bitcoin and cryptocurrency assets could create "new vulnerabilities in the international financial system," while the world's banks would adjust to the recent boom in bitcoin and blockchain.
Earlier this week, EU regulators said custom rules may be needed for bitcoins and crypto-currencies, warning investors about the high risks associated with cryptographic assets had no significant effect.
Among the ten largest crypto-currencies, bitcoin, ripple (XRP) and stellar were the most sold during the recent rout, at the time of publication.
Bitcoins in cash, a derivative of the original bitcoin, as well as ripple (XRP) were the most sold in the rout.CoinMarketCap
