After reaching a new high in 2019 of $ 13,000, Bitcoin turned tumbled mode, it fell below $ 10,000 at noon today. For Ta who had shot down the thigh, the decline Bitcoin is a good chance the car do?
Perhaps, before the car, find out why the fall is more important.
5 fell over 29%
Bitcoin below $ 10,000.
Today at noon, Bitcoin is a shock for several days, coupled with the "perfect" sum - below $ 10,000, the same as the previous rose fell Bitcoin again "Hi mention" microblogging hot search.
Non-small data show that Bitcoin today lowest price is $ 9736, a drop of 10.8% in 24 hours, if counting from the high of 13,826 US dollars in June 27, the 5-day drop of more than 29%.
Affected by the Bitcoin decline, Ethernet Square, litecoin other major currencies have suffered different degrees of decline, the total global market capitalization of digital currency also fell below $ 300 billion.
At the same time, longs market also appeared warehouse explosion case, the contract Emperor data show that only at 12:22 on July 2 assigned to 12:47, just over twenty minutes total warehouse explosion reached $ 46.26 million, bits warehouse explosion currency reached $ 32.69 million.
"Unscrupulous Bitcoin, only rise."
Earlier in the Bitcoin skyrocketing, a group of Ta were such ridicule, and now see the crash Bitcoin, Ta Kong who should smile?
Three reasons Bitcoin decline
In trading platform eToro senior market analyst Marty Greenspan (Mati Greenspan) it seems, fell bitcoin is "positive signal", which is "throwing a bucket of ice water on anxiety encryption currency market, this market indeed become a little overheated. "
If you go to analysis, then this bucket of ice water probably comes mainly from three aspects:
1.Plustoken funds and other disk Baolei
June 29, investors reflect Plustoken wallet can not mention now, after founding team on foot, was arrested and other related news have burst.
According to media reports, Plustoken to absorb a large number of bitcoins, or amount of money involved 200 million yuan.
"The first lap currency funds tray" after Plustoken Baolei, Bell chain disc project funds will also be heard on foot, for the entire encryption market which are not a small market selling pressure and negative.
All along, the currency led to VDS resonance mode of funding is seen as one of the game disc to boost the power of Bitcoin prices, many funds now Baolei plate, the foot of Bitcoin played a role bite, the phrase should be saying, "come out to mix, and always has."
If you previously, plate project funding is not enough to make the market aware of its risks, then Plustoken tells everyone with a sharp lesson: the long term, both for the individual investor or the entire encryption money market funds discs are "rat poison . "
2. The temporary reduction in risk aversion
In the eyes of many, Bitcoin and gold as a safe-haven asset, its price is affected by risk aversion.
And recently, in the stimulation of good news, the dollar opened strong rise in gold, yen and other safe-haven assets plummeted, especially gold, opening plunged 25 dollars, below the 1400 point integer.
These data indicate that the market risk aversion is decreasing, so as currency dropped bits of safe-haven assets has become a well-deserved things.
3.8 Yuefen Mt.Gox Bitcoin unlock the expected pressure
In addition to reducing disk Baolei funds and market risk sentiment, the August Mentougou (Mt.Gox) to unlock the Bitcoin market also fell enormous pressure.
In some people, the end of 2017 Bitcoin down, with the arrival of Mentougou 2018 bear market sell bitcoins are not unrelated.
There are still 200,000 bitcoins when Mentougou bankruptcy, from December 2017 to June 2018, Mentougou trustees have sold more than 60,000 pieces of BTC and 59,000 pieces of BCH, cash of $ 616 million.
Currently, there are 140 000 and 140 000 BCH BTC has not been put on the market, the money market for encryption, which is tantamount to a time bomb.
As early as March this year, the media reported that in Mentougou principal said it would compensate 5 in the scheme - to start issuing compensation in June, and submit materials, review of materials, and a series of processes to determine the compensation scheme will take more than two months time, it is likely in August, Mentougou 140,000 Bitcoin will be back in the hands of creditors.
For Mentougou 25,000 users, it holds 750,000 bits of money five years ago, only $ 338 million, Mentougou now held by BTC, BCH add up to a total value of nearly $ 800 million. For creditors, although a long time to wait, but there are income doubled.
In many analysts view, after these bitcoins enter the hands of users, users do not rule out selling cash. So for 2019, the market of which 140,000 Mentougou Bitcoin is a huge risk.
July has come close to the face may come Mentougou Bitcoin sell-off in August, the market will inevitably be vigilant.
Bargain-hunting or wait and see?
For the vast majority of investors are most concerned about is nothing more than: Bitcoin fell, I was not able to get on the train?
In FXstreet analysts view, Bitcoin has suffered sustained selling pressure, if Bitcoin can not recover $ 10,000, may go down to $ 8600. In addition some analysts said the downward trend will continue, not short-term bargain-hunting, do not empty.
However, in some firm believer Bitcoin seems, when to buy Bitcoin is not too late, just earn earn less difference.
Bitcoin is always a game of greed and fear, chase sell human weakness has always been difficult to overcome. But the vagaries of the encryption market, in the face of huge price volatility, cautious, risk control is king.