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 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.