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If there is a plan for Bitcoin's terrible 2018 trajectory, it may not have hit him yet. The main cryptocurrency lost 12% of its value on the last day, falling south of the $ 3,400 mark.
Reminder: a year ago, a Bitcoin was worth $ 17,900. Bitcoin has not been so low since mid-September 2017, since its glorious – and finished – rally has gained traction.
This is not even the first significant Bitcoin drop of the month. He lost 8% at the beginning of December. In previous weeks, he had further significant daily declines.
As usual, Bitcoin's travails are mirrored by falls in other cryptocurrencies. XRP (Ripple) fell 12% in the last 24 hours, and Etere (Ethereum) 17%.
A countertrend virtual currency is Bitcoin SV, or "Satoshi & # 39; s Vision" – a reference to the mysterious founder or founder of Bitcoin, known as Satoshi Nakamoto – which increased by 22% during the day.
Bitcoin SV is a recent fork of Bitcoin Cash, which is itself a fork of Bitcoin. And now Bitcoin SV seems to have surpassed Bitcoin Cash (less than 17% of the day) in market capitalization – $ 1.94 billion to $ 1.78 billion.
The bifurcation of a cryptocurrency generally occurs when different stakeholders in that cryptocurrency have different views on how it should work in the future. Advocates of Bitcoin SV include the controversial businessman Craig Wright, who claimed to be Satoshi Nakamoto. Their intention was to create a more profitable version of Bitcoin for "mine" than previous alternatives, even though it did not work so far.
However, why does the general fall? There have been no earthquakes in the world of cryptocurrencies in the last two days: US lawmakers have introduced a couple of bills on consumer protection in the scene, but the proposals were clear on the details. So it's very probably just a matter of group feeling.
At this moment, this feeling is not good.
