In early December, bitcoin price increases from $10,240 up 19,994 USD, i.e. nearly doubled in value. However, electronic money has the US $11,000 it was in session on 22/12, according to the data of CoinMarketCap.
1. Virtual Money Bitcoin fall badly
Meanwhile, Ethereum-virtual money has the second largest market capitalization only to plummet at 550 bitcoin USD.
Virtual money world has had an unlucky day discounts do not break the cut hole, closing words of speculators. Just in the past 24 hours, the Ethereum has 27.4% depreciation, 36.3% Cash-Bitcoin, Ripple-6.2% and Litecoin-29%, all slumped.
"Black Friday" was blown out of the 179 billion market for electronic money, put the value of the whole market to 471 billion.
With this drag reduction levels drop, bitcoin momentum increase from early May. The adjective 1/12, bitcoin price increases around 30%, if from the beginning of the year, bitcoin rose 1,300%. On 22/12 alone, lost to 40% bitcoin value compared to the previous week's record milestone.
2. Soaring again after the Bitcoin hit bottom
According to gender analysis, comments from the Central Bank, decided to sell the full amount of the holding of the virtual founder of Dong litecoin and want to reduce the rate of the psychological hold before entering the holiday of investors have the same resonance and makes the price plunge steeply.
Bitcoin and many others have coins increase, ending discount momentum have lasted 4 days and make the whole world should pay more attention to the world of money-market to date has reached 500 billion scales but often being called bong the ball. In the worst rush since the year 2015 to date, bitcoin has lost 24% of the value.
Only in session on 22/12, to 30% reduction when bitcoin hit bottom. On 21/12, litecoin also fell 43% in just 1 day. However, according to the data on the Coinmarketcap.com at 11 h day 23/12, bitcoin has increased prices compared with 24 hours in advance, to $15,143. The coin has the second biggest capitalization value is Ethereum 18.62% price increase, while 42% increase in cash bitcoin. Litecoin increased by 30%.
The momentum of recovery also coincided with the "Storm" of negative information about the money market has temporarily stopped. According to gender analysis, the commentary from the Central Bank, decided to sell the full amount of the holding of the virtual founder of litecoin and want to reduce the rate of the psychological hold before entering the holiday of investors have the same resonance and prompting reviews steep plunge.
Such a move "pour more oil on the fire", Michael Novogratz, who worked at Goldman Sachs, predicts the bitcoin can further reduce the price to just $8,000 and he will defer plans to open the Fund to invest the money. Just a few days ago Novogratz predicted bitcoin can hitting 40,000 USD for a few months.
Meanwhile Coinbase, one of the biggest money trading world, the play suddenly take notice all transactions of purchase and sale will temporarily not be executed. In South Korea, Yapian, the company that owns Bitcoin exchange Youbit announced that they will close and they are in the process of bankruptcy after being attacked and damaged 17% of total assets.
A series of warnings that the water authorities for investments also create global momentum. In the interview with Bild, said Felix Hufeld, President of the watchdog BaFin, the German banking system giving advice that bitcoin transactions can make investors lose everything and become the "bitter losses in".
Three days earlier, the head of the financial services agency of the European Union EU Valdis Dombrovskis, asking leaders of the 3 the financial supervision authority of the EU updated warning posted to the public, given that this is the "urgent problem" is based on the latest happenings of the money market.
"Price hikes and rises very abruptly, the next time I would not be surprised if the market fell on strong adjustment status. The worrying thing is the small retail investor has lost white will pose the question why authorities not to intervene to help them. And the answer would be: because it is a casino. The bitter truth is so ", Bloomberg cited the letter he sent Dombrovskis.
3. Wave rush bitcoin rise occasion
The number of money market was not able to reverse the situation with the rush continued on an extension. The recovery momentum quickly disappeared, prompting investors to again fall into pessimism.
According to the data on the Coinmarketcap.com at the time of writing, the price at about $13,800, bitcoin news rising near 1/3 versus $19,511 peak. The same as cash, litecoin, bitcoin ripple are also discounted. Meanwhile, after dropping $663, Ethereum, coins for the second largest number of reviews according to the value of capital goods, were recovering.
By Mati Greenspan, senior analyst at online brokerage eToro, the rush is coming from the West with trading volume increased in USD and JPY falling down. According to him, the rising momentum of recent money market number too large that investors want to handle a temporary break and reply to enjoy Christmas.
However, this is quite unusual with money-market usually recovered sharply in just a short time. For the last five consecutive sessions off bitcoin is from September. Although this market is usually very strong, the dislocation in a rush this time makes the most optimistic investors also have to balk.
Just in the past 3 days, the market value of the coins, the largest number had plunged a total of about 160 billion dollars. Last week the market has overwhelming welcome bad news, from the tough warnings of the officials to the issue on the floor. While Greenspan said that "the time has come to return to reality". "Anything that has 150% price increase in less than a month is going to have to turn around falling at the rate of 2 numbers," he said.
Mike McGlone, Bloomberg's Intelligence analysts, identified "numerous coins based on blockchain technology are gradually entered the main stage, but some of the second generation are better prospects bitcoin". Look at the money market of today can find similar stories as the Internet company in the first period, a few dozen years, he said.
"Bitcoin can be the standard for the market, but not as representing the best technology". According to him, the future will belong to the same altcoin.