Why falling Bitcoin threatens its status of "gold 2.0"?
Source:In recent weeks, has shown a remarkable stability, until I finally fell down from 6500 dollars to nearly $ 6,000. This suggests that the market is still dominated by bearish sentiment, the bulls will have to make many efforts to expand the price trend.
Many analysts say the cause of the fall of Bitcoin a sharp decline in traditional markets. It does not speak in favor of the first cryptocurrency — such dependence on external factors jeopardizing the reputation of Bitcoin as "gold 2.0".
This statement was made by Craig Erlam, senior analyst at consulting company Oanda. In his opinion, due to recent events with Bitcoin it will be difficult to consider a candidate for possible replacement of the main precious metal.
theWhat threatens Bitcoin?
During the fall of traditional markets because of the trade war between the US and China, Bitcoin has not demonstrated those qualities that should have a gold 2.0. Now kryptonitetm be difficult to call the coin asset, which is relatively independent from external factors and uncorrelated with traditional markets.
According to the analyst, the exchange rate of Bitcoin of $ 6,000 likely psychological mark and a certain reference point. From its achievements will depend on further dynamics of the prices the first cryptocurrency.
Source: 2bitcoins.ru
The Fall of Bitcoin has affected not only the reputation of coins and many altcoins. Some of them fell by 10 percent or more. In particular, XRP fell by 12 percent, and Ethereum and XMR — 11 and 5 percent, respectively.
Now the market capitalization of crypto-currencies is just over $ 200 billion. Let's hope that the fall of Bitcoin and other coins will stop, and the market has already accumulated enough energy for a strong push upwards. Otherwise typical for December Here will be in jeopardy.
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