Why battles and prices are causing a fresh collapse



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On Wednesday, bitcoin, the most famous digital currency in the world, fell by more than 10%, declined to $ 6,000 in October 2017 and traded to the lowest level.

By the end of the session bitkoin

BTCUSD, + 0.03%

the closure by 11.6%, the third largest fall in 2018, which is just an above-average fall of 16.5% on 16 January and 15.5% of toboggans on February 5, according to market data from Dow Jones.

Also bitkoin guru and early adopter Barry Silbert, who declared in July that bitkoin would not reach the new cut in 2018, was stunned, summing up the shift in one word: Capitalization


The greatest fall in 2018

Read: Bitcoin terminal goods 13%, trigger trading limit

With average investors who lick their wounds, now is the time to look at potential catalysts for the Battle of the Battle:

Read: Do not fight FUD: HODL to this list of bitcoin terms you need in your vocabulary

Hard Bitcoin Cash

On Thursday, Bitcoin Cash is the fourth largest digital currency

BCHUSD, + 2,96%

was set to hard fork and divided into two currencies. This move was distributed by the kriptocommunity without a clear consensus, TKTKwhich coin with attractTKTK most miners and computer power. "This drop in price is more than likely due to the upcoming hard fork designed by Bitcoin Cash," said Marcus Swanepoel, co-founder and CEO of the Moon, a crypto-security wallet.

"Blockcoin Bitcoin Cash regularly claims fork for every six months to upgrade and improve the protocol. In most cases, these hard forks are not controversial with the whole community it supports. However, in this case, it was not possible to reach agreement with two fractions appear, and suggests various solutions for upgrading. "

Read: What you need to know about the battle "Bitcoin Cash"

There were two of the biggest personal conflicts in the war for the fork. Roger Ver, who supports the status quo and Craig Wright, who defends the new Bitcoin Cash, known as Bitcoin SV (Satoshi's Vision), is concerned with how miners should commit their resources.

"We can say that the coming solid jaw Bitcoin Cash has mixed the uncertainty among crypto investors, and announcers in cryptographic and traditional markets have announced that the bear market will be extended in 2019," said Donald Bullers, North American representative for Elastos, a decentralized program equipment is a company that stores personal data.

Reducing interest in digital currencies

After a few months, when the volatility of bitkoin was reduced in order to record a low level, issues of general interest in the emerging industry were raised. The data from bitcoinity.org shows a continuous decline in trading volumes in 2018.

In addition, when the volume fell, one analyst found that the rate of decline indicated that the adoption of digital currencies had stopped. "The speed with which the cryptos fell on Wednesday shows that there is very little money to buy interest in the market and have become limited in size," says Nick Cawley, an analyst at the FX daily market.


The extent of trading in bitcoin

Read: Almost 10% of all bitkins did not move within 12 months

Technical deviation

For the techniques, the cards told the story. A longer bitkoin had $ 6,000 without moving higher, but the more vulnerable it had become a severe decline if it were

"[Bitcoin] was just interrupted under a twelve-month support zone, which was set by February, April, June and August-October minima. We would have convinced traders / investors that this breakdown is the main thing, "said Rob Sluymer, a technical analyst at Fundstart Global Advisors, in a research note.

It is even more relevant to HODLers, a group of investors, who remain undisturbed despite investing in the market, Sluymer warned that this route will continue. "The breakdown this week increases the risk [bitcoin] he will add the following support close to 5000 with the next larger, he added.

But for real cryptoanarchists it may need more than a 10-percent decline to adapt to cryptography. "The simple fact is that I do not sell bitkoins in my portfolio, but I'm not really interested in this today's marketing campaign," wrote Naeem Aslam, the main market analyst at Think Markets U.K.

"So the recent sale did not change my look at the technology or potential it has. Wait for the currency or debt crisis and guess who on the door will hit the door, Bitcoin."

Read: What is more volatile than battle? You might be surprised

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