BTC price has hit a new yearly low today, leaving the cryptotraders and financiers hungry for answers in the wake of cryptomarket seeking its bottom.
The Binance Coin that provides customers with a 25% discount on exchange fees, has recorded a significant trading activity growth over the past day.
Over the past period of what has been nearly a year, BTC value declined by approximately 85%, dropping from 19,500 USD to 3,000 USD.
BTC is coming close to losing the trust of financiers, causing the cryptomarket to bleed profusely as the financiers nervously sell their assets.
David Puell, a BTC and cryptomarket analyst, states that the world’s most popular digital asset might hit the bottom between December and Q1 2019.
The hash power war between the fork versions of Bitcoin Cash is finally over, with the defeated turning out to be the actual winners.
Over the past day, BTC value lost some volume, going from 4,065 to 3,600 dollars in a reversal of short-term upside movement.
Stephen Innes, head of trading at Oanda, stated that the price drop of BTC and digital currency will cause a surge of gold price..
Chief executive of Genesis Trading, Michael Moro forecast BTC to hit the bottom at approximately 3,000 USD, after the asset dropped to 4,035 USD.
Venture capital financier points out 3 key reasons behind the 65 billion USD wipeout suffered by the cryptomarket
Chris Burniske claims that the retracing seen in the US stock market, sell-off of ETH and BCH hard fork event all contributed towards the wipeout.
The best performing cryptocurrency has finally had its encounter with the intensive downside movement experienced by the entire cryptomarket.
In the course of the past day, the cryptomarket has lost another 25 billion dollars, while dominant cryptocurrencies recorded a big price drop.
Bitcoin’s value lost over 10% within the past day after a big sell-off, while some lesser market capitalization currencies lost up to 20% of value.