Bitcoin just fell 10 percent. What is the reason?

Date:

2018-11-15 00:15:06

Views:

3270

Rating:

1Like 0Dislike

Share:

Bitcoin just fell 10 percent. What is the reason? Source:

This day is over for the stock market is a very sharp drop of Bitcoin and almost all other coins. For a couple of hours the main cryptocurrency dropped by more than $ 500. The total market capitalization has fallen below $ 200 billion. The situation looks very bad. Especially considering the fact that once again came in below the important support zone of $ 6,000.

At the moment, the main bitcoin trading at 5785 $ (average price per Coinmarketcap). This is the lowest asset value over the past 12 months. The holders altcoins can only sympathize — they cryptoperthite depreciated even faster.

the

dropped Why Bitcoin

Environment is not set since the morning — even in the early hours Moscow time, Bitcoin was included in the local downtrend. Up to this point nothing boded trouble, because the asset itself has long been within a narrow horizontal channel. Phase stability are over, now we just have to wait, which line will become a new psychologically important level of support for crypto-currencies.

What is the reason for such a significant drain? Perhaps one of the prerequisites was a power outage to large miners in China. The authorities of the two regions of China with the cheapest electricity (Xinjiang and Guizhou) stopped the flow of the main resource mining companies because of arrears of accounts.

Version hardforum Bitcoin Cash can be discarded, since the fall had an impact on BCH. Besides, it is not clear what a direct dependence was established between the market value of the two coins now. The rest of the altcoins with the top 10 fell by at least 10 percent. Worst affected Bitcoin Cash, EOS and Cardano.

image Source — Reddit

Well, at least the volatility of the stock market gained momentum. If you managed to predict all the events and opened a large short, congratulations. Can share your success or loss in our .

Recommended

Co-owner Bitcoin.org Coinbase Pro ridiculed and called a stock exchange Scam

Co-owner Bitcoin.org Coinbase Pro ridiculed and called a stock exchange Scam

co-Owner Bitcoin.org and most popular forum about cryptocurrency Bitcointalk.org Cobra called Coinbase Scam Pro trading platform American crypto currency exchange Coinbase. In his tweet he wrote «if you read Coinbase Pro backwards, get the word ...

The Ethereum is a cryptocurrency Scam. A new report Chainalysis

The Ethereum is a cryptocurrency Scam. A new report Chainalysis

When people learned how to create a new cryptocurrency and began to build their infrastructure like marketplaces, in the field began to appear and fraud. According to blockchain auditor Chainalysis for the past two years, fraud in the ecosystem has s...

Rally Bitcoin — deception. Well-known economist advises to invest in gold

Rally Bitcoin — deception. Well-known economist advises to invest in gold

Director of Euro Pacific Asset Peter Schiff does not see anything supernatural in growth . Recall that the main cryptocurrency has already risen by 179 percent since the beginning of 2019 and is now trading at the level of $ 8540. According to Schiff...

Comments (0)

This article has no comment, be the first!

Add comment

Related News

VEB and the Grozny mayor's office transferred the housing sector on the blockchain

VEB and the Grozny mayor's office transferred the housing sector on the blockchain

In February, the first Deputy Chairman of VTB Olga Dergunova positively the prospects of the blockchain. According to her, the technology will improve the speed of transactions and security standards. To move from words to action ...

Hacker 1337. How to hack Etherscan not to cause any harm

Hacker 1337. How to hack Etherscan not to cause any harm

Monday on the website Etherscan.io appeared a pop-up message with the numbers 1337. The visitors began to panic and spread rumors about hacking Explorer. really hacked, but the damage from a hacker attack was zero. About it writes...

Nvidia predicts good revenue in the third quarter, but what about mining?

Nvidia predicts good revenue in the third quarter, but what about mining?

November 15, American manufacturer Nvidia must submit a report on the third quarter. Experts of the research firm Trefis predict an increase in sales of graphics processors at the end of the third quarter of 2018. In Trefis also n...

FAQ: ERC-20 tokens and why do they need

FAQ: ERC-20 tokens and why do they need

technical basis of virtually all of today's stock market. After its invention almost everyone can bring to the industry something new thanks to the simplicity ERC-20 tokens. But how actually they work? Today we have prepared a se...

Broken farm: the profitability of mining Ethereum has fallen to almost zero

Broken farm: the profitability of mining Ethereum has fallen to almost zero

mining cryptocurrency is not what it was before. According to CNBC, the profitability of mining coins with GPU mining has dropped to almost zero. As an example, journalists lead the Ethereum, saying that to get the second capitali...

What is stronger just prevented the mass adoption of Bitcoin? Version Craig Wright

What is stronger just prevented the mass adoption of Bitcoin? Version Craig Wright

Craig Wright recently appeared in the video Tony Weiss, one of the most famous supporters of Bitcoin. In a conversation with Weiss, the self-proclaimed Satoshi Nakamoto spoke very sharply about the upcoming hard forks Cash. Accord...

What happens to the price of a Bitcoin Cash in the day of hard forks? The answer is on the charts

What happens to the price of a Bitcoin Cash in the day of hard forks? The answer is on the charts

Each hour location along with a line of $ 500 increases the chances of falling . Recall that tomorrow will be an important event in the life of cryptocurrency — there will be hardwork BCH. It is possible that up to this point the ...

Why Bitcoin is a very important concept? The businessman

Why Bitcoin is a very important concept? The businessman

So says one of the most prominent supporters of Bitcoin entrepreneur mark Andreessen. Recall, he was one of the first who said about the potential of cryptocurrency in public. In a recent interview, cryptomnesia noted that the ind...

Ripple in a consolidation phase. When the coin will start to grow?

Ripple in a consolidation phase. When the coin will start to grow?

October is over and with it ended «the era of market wins» Ripple. After several sharp price swings cryptocurrency trading found your channel and can't seem to leave. Now the price of the asset goes to the narrow gap. To...

Section of power in Bitmain. Jihan Wu removed from the post of Director

Section of power in Bitmain. Jihan Wu removed from the post of Director

According to one of the thematic Chinese news agencies Sanyan Blockchain, co-founder of mining company Bitmain is no longer able to influence corporate decisions. Citing an unnamed source "financial news", the reporters quote a la...

You can not compare Bitcoin with banks the speed of transactions. Why?

You can not compare Bitcoin with banks the speed of transactions. Why?

the network Board of the Bitcoin miner will be the same no matter transfer you a hundred dollars or a million. On October 16 in the blockchain of Bitcoin has registered a virtually instantaneous transaction with a volume of 194 mi...

All ready: which stock exchanges and wallets will support hardwork Bitcoin Cash

All ready: which stock exchanges and wallets will support hardwork Bitcoin Cash

earlier, we wrote about how the holders BCH to the upcoming split of the blockchain cryptocurrency and in detail told about the . This time we will gather the names of the platforms, where does one store their coins from the proce...

To the moon: CEO of Ripple spoke about the desire to overtake banking network Swift

To the moon: CEO of Ripple spoke about the desire to overtake banking network Swift

a Blockchain startup Ripple Labs, digital money which is often used as a buffer for payments in other cryptocurrencies, is rapidly gaining a customer base. Behind the scenes of the event in Singapore, the company's CEO told Bloomb...

2 thousands of confirmations of the transaction. It is not necessary to trade on Poloniex

2 thousands of confirmations of the transaction. It is not necessary to trade on Poloniex

the Agency CCN found out that the crypto currency exchange Poloniex to deal with Bytecoin need too much time. The journalist decided to speculate in cryptocurrencies before, and this used the savings in Bytecoin and other currenci...

Analyze charts: what will happen to the price of Bitcoin after a Bitcoin hard forks Cash

Analyze charts: what will happen to the price of Bitcoin after a Bitcoin hard forks Cash

seems to not render almost any influence on the price of Bitcoin. It remains stable, like a few months ago. However, some experts suggest that after November 15 the new money will flow into Bitcoin. If this really happens, the ma...

Grow: the number of cryptomate in the world has increased to 4,000 pieces

Grow: the number of cryptomate in the world has increased to 4,000 pieces

One of the most accurate signs of mass adoption of Bitcoin — the prevalence of cryptomate all over the world. On the eve of their number reached 4,000 pieces. ATM for Bitcoin can make the crypt more accessible to ordinary people w...

Bitfinex has increased the fee for withdrawal. Now exchange is not profitable PayPal

Bitfinex has increased the fee for withdrawal. Now exchange is not profitable PayPal

to Convert the crypto to Fiat is not cheap, at least on Bitfinex. This Sunday the Hong Kong stock exchange updated its policy regarding commissions. Now traders will have to pay three percent of the frequent insights from the trad...

Hasrat of Bitcoin fell by 13 percent. Blame

Hasrat of Bitcoin fell by 13 percent. Blame "Satoshi"

on the Eve of Hasrat Bitcoin experienced the most serious decline in this year. In just 24 hours it has dropped from 54 to 47 aksaka per second. The average value Hasrat 7 days start to decline rapidly from 4 November. The exact c...

The investigation into the hacking NiceHash. There are new details

The investigation into the hacking NiceHash. There are new details

NiceHash, along with law enforcement US, EU and LIFARS are still investigating the break-in site, which happened on 6 December 2017. Then the hackers stole . Recently, they have been able to determine the origin of the hacking, so...

NEM has grown by 25 percent. The cryptocurrency has again added to Coincheck

NEM has grown by 25 percent. The cryptocurrency has again added to Coincheck

In the vastness of the stock market held a regular pump. This time the coin for became the New Economy Movement (NEM), which is displayed under the Ticker XEM. Just a couple of hours the price of bitcoin has increased by 25 percen...