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Bitcoin and other large cryptocurrencies are collapsing into an unexplained and dramatic market crash.
After weeks of steady gains, Wednesday morning the bitcoin fell by more than $ 300 within an hour, with ethereum, ripple and bitcoin liquidity all following his example.
The reason for the sudden fall in prices is not immediately obvious, although some analysts have said that the sale of panic could contribute to the fall in the value of Bitcoin.
While bitcoin has decreased by about 4%, the hardest success of the market has been ethereum, ripple, bitcoin cash and EOS, which all fell by about 10%
The volatile history of Bitcoin in the images
1/8 Satoshi Nakamoto creates the first bitcoin block in 2009
On January 3, 2009 the bitcoin genesis block appeared. It was less than a year after the pseudonym creator Satoshi Nakamoto described the cryptocurrency in a document titled "Bitcoin: a peer-to-peer electronic payment system"
Reuters
2/8 Bitcoin is used as currency for the first time
On May 22, 2010 the first bitcoin transaction took place in the real world. Lazlo Hanyecz bought two pizzas for 10,000 bitcoins – the equivalent of $ 90 million at today's prices
Lazlo Hanyecz
3/8 Silk Road opens for business
Bitcoin soon gained notoriety for its use on the obscure web. The Silk Road market, established in 2011, was the first of hundreds of sites to offer illegal drugs and services in exchange for bitcoins
4/8 The first ATM bitcoin appears
On October 29, 2013, the first ATM bitcoin was installed in a coffee shop in Vancouver, Canada. The machine allowed people to exchange bitcoins for cash
REUTERS / Dimitris Michalakis
5/8 The fall of MtGox
The biggest bitcoin exchange in the world, MtGox, filed for bankruptcy in February 2014 after losing nearly 750,000 of its bitcoin customers. At that time, this was about 7% of all bitcoins and the market inevitably crashed
Getty Images
6/8 The real Satoshi Nakamoto would stand up
In 2015, the police Australian broke into Craig Wright's house after the businessman claimed to be Satoshi Nakamoto. Subsequently rescinds the affirmation
Getty Images
7/8 The great division of Bitcoin
On 1 August 2017, an unsolvable dispute within the bitcoin community has seen the division of the network. Bitcoin's underlying blockchain technology fork has spawned a new cryptocurrency: bitcoin cash
REUTERS
8/8 Bitcoin price rockets
By the end of 2017, the bitcoin price is rose to almost $ 20,000. This represented an increase of 1,300% compared to its price at the beginning of the year
Reuters
1/8 Satoshi Nakamoto creates the first bitcoin block in 2009
On 3 January 2009, the block of genesis of bitcoins appeared. It was less than a year after the pseudonym creator Satoshi Nakamoto described the cryptocurrency in a document titled "Bitcoin: a peer-to-peer electronic payment system"
Reuters
2/8 Bitcoin is used as currency for the first time
On May 22, 2010 the first bitcoin transaction took place in the real world. Lazlo Hanyecz bought two pizzas for 10,000 bitcoins – the equivalent of $ 90 million at today's prices
Lazlo Hanyecz
3/8 Silk Road opens for business
Bitcoin soon gained notoriety for its use on the obscure web. The Silk Road market, established in 2011, was the first of hundreds of sites to offer illegal drugs and services in exchange for bitcoins
4/8 The first ATM bitcoin appears
On October 29, 2013, the first ATM bitcoin was installed in a coffee shop in Vancouver, Canada. The machine has allowed people to exchange bitcoins for cash
REUTERS / Dimitris Michalakis
5/8 The fall of MtGox
The biggest bitcoin exchange in the world, MtGox, has filed for bankruptcy in February 2014 after losing nearly 750,000 of its bitcoin customers. At that time, this was about 7% of all bitcoins and the market inevitably crashed
Getty Images
6/8 The real Satoshi Nakamoto would stand up
In 2015, the police Australian broke into Craig Wright's house after the businessman claimed to be Satoshi Nakamoto. Subsequently rescinds the affirmation
Getty Images
7/8 The great division of Bitcoin
On 1 August 2017, an unsolvable dispute within the bitcoin community has seen the division of the network. Bitcoin's underlying blockchain technology fork has spawned a new cryptocurrency: bitcoin cash
REUTERS
8/8 Bitcoin price rockets
By the end of 2017, the bitcoin price is rose to almost $ 20,000. This represented an increase of 1,300% compared to its price at the beginning of the year
Reuters
The bitcoin reached the maximum of one month on Tuesday, bringing some experts to suggest that one might expect a price increase.
"The increase in price stability of Bitcoin over the past two days has not been seen for a while, and I think it should be seen as a positive sign with further gains, especially in the coming months," blockchain investor and advisor Oliver Isaacs said The Independent when he was asked what the prospects of the cryptocurrency were just a few hours before the incident.
Yet other analysts have been quick to say that cryptocurrency investors should be careful to see recent gains as a sign of future things, at least in the short term.
"The price of Bitcoin could increase but it is too early to call it a real resurgence," said Matthew Newton, a market analyst at the eToro online trading platform. "We have seen the yo-yo price for several months, so I would hesitant to announce it as a new dawn yet … Operators should be cautious. "
He added:" Looking forward, there are many positive things though. "There is a lot of fundamental news on the development of cryptocurrencies at this time, but it will take time to filter and affect the price. "
Bitcoin is still trading higher than it was at this point last year, although it remains a long way from the highs of December 2017, when the price reached almost $ 20,000.
Since then, the bitcoin has slipped up to the current price of about $ 7,000, although in recent months it has had a period of relative stability.
The most significant thing is that the bitcoin appeared more immune to the negative press in 2018, which previously had a major impact on its market movements.
