Red October, which led to a sharp drop in Ethereum and Bitcoin Cash?

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2019-01-11 01:30:07

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Red October, which led to a sharp drop in Ethereum and Bitcoin Cash?

Over the last 4 hours of the capitalization of the stock market lost about $ 9 billion, and has fallen by at least 15 percent per day. The price for this too collapsed down to $ 3670. What is the reason for such a collapse? While the cryptocurrency is in «limits» its growth, so the recent reduction in the cost could be called local correction.

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The Holders of Ethereum in fact nothing to complain about. Over the past two weeks the price of a coin rose from 85 to $ 160 on the news about the imminent activation of the hard forks . The trading volume on the Ethereum also has grown, which has increased market dynamics.

As it turned out, even a local bullish rally can «erase» just a couple of hours. Today, the Ethereum fell by 15 percent from 154 to 128 USD. At the time of writing the fall is still ongoing, but it has already become one of the largest in the last 12 months.

With increasing pressure on the stock market projects that demonstrated a good profitability in December/January, are now suffering the greatest losses. Among them should be attributed the same Ethereum, Bitcoin and Cash .

A cryptocurrency in the top 10 of our rating showed good growth over the past two months, but analysts still refuse to proclaim «formation of DNA» market. According to them, Aldona still need to break above the main resistance level to confirm the bullish rally.

Source: CCN

Recall that in December a well-known trader mark Dow said that if Bitcoin is below $ 3,200 in the near future, the stock market offers a very hard time. He Dou managed quite well on the fall of the main scriptactive, opening a short position on Bitcoin more than a year ago. The amount of earnings the expert was not disclosed.

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