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Bitcoin abruptly collapsed during Thanksgiving weekend, dragging along the broader cryptocurrency market, including ripple (XRP) and ethereum ether, while the huge sell-0ff of last week is returned to destroy the hopes the bitcoin market had found a plan.
The price of the bitcoin has dropped to a minimum of $ 3,604, according to the price of CoinDesign bitcoins, before bouncing over the psychological sign of $ 4000. The price of bitcoin is currently around $ 4,000 on the Bitstamp exchange in Luxembourg , as the volatility observed throughout the month of November continues to cause chaos for traders, investors and trades.
The price of bitcoins has now dropped about 80% from the highs of nearly $ 20,000 at the end of last year, while other major cryptocurrency (XRP) and ethereum waves have declined in similar amounts.
Cryptocurrencies like bitcoin, ethereum, ripple and & nbsp; litecoin showed unprecedented growth in 2017, with growth of over 5000%, with the market leader bitcoin reaching nearly $ 20,000 per currency just before the new year. Since then, however, the entire sector of cryptocurrency has dropped drastically, losing more than 80% of its value. (Photo by Jordan Mansfield / Getty Images)Getty
Ripple, the common name for the XRP digital token, held up better than most of the November sales, thanks to offers that continue to nail with the traditional financial services industry to cross-border fast and economic transactions.
Despite many loyal bitcoin supporters claim that bitcoin is simply a discount for today's Cyber Monday in view of a so-called Santa Claus rally (which traditionally sees the actions of the whole world moving upward during the Christmas period), others are losing confidence in the future of bitcoins and cryptocurrencies.
The price of the bitcoin collapses over the weekend does not seem to be connected to any particular news, but a continuation of the sell-off unleashed at the beginning of the month by the fork of bitcoin cash cryptocurrency that triggered a civil war between the two factions of rival bitcoin.
The low volumes of trade during the holiday weekend, however, mean that the market is more vulnerable to so-called "whales" moving large amounts of bitcoin, ripple (XRP) or ethereum. When a major currency owner sells, he can trigger automated computer-controlled sales orders that lead to sudden disadvantages.
Many had hoped the bitcoin price had found a plan last week for over $ 4000.Coindesk
Elsewhere, others remain confident that the last fall in bitcoin prices will be short-lived and can be remedied with greater institutional involvement and regulatory oversight of the cryptocurrency space.
"Bitcoin's latest dive is proof of the need for greater regulatory oversight to boost investor confidence," said Herbert Sim, Cryptology's chief sales officer, a Singapore-based cryptocurrency exchange. "There is already a huge amount of capital linked to cryptocurrencies, exceeding $ 100 billion, so why let it continue to be a rogue market?
"In order for space to move forward and investor confidence stabilizes, lawmakers must set standards to separate weeds from roses in the world of cryptocurrencies.With oversight of the cryptocurrency Wild West will legitimize, and subsequently stabilize industry, which will allow it to reach the next step of maturity. "
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Bitcoin abruptly collapsed during Thanksgiving weekend, dragging the broader cryptocurrency market, including ripple (XRP) and ethereum ether, while last week's huge sell-0ff did back down destroying the hopes of the bitcoin market.
The price of the bitcoin has dropped to a minimum of $ 3,604, according to the price of CoinDesign bitcoins, before bouncing over the psychological sign of $ 4000. The price of bitcoin is currently around $ 4,000 on the Bitstamp exchange in Luxembourg , as the volatility observed throughout the month of November continues to cause chaos for traders, investors and exchanges.
The price of bitcoins has now dropped about 80% from the highs of nearly $ 20,000 at the end of last year, while other major cryptocurrency (XRP) and ethereum waves have declined in similar amounts.
Cryptocurrencies like bitcoin, ethereum, ripple and litecoin showed unprecedented growth in 2017, with an increase of over 5000%, with the market-leading bitcoin reaching nearly $ 20,000 per currency just before the new year. Since then, however, the entire sector of cryptocurrency has dropped drastically, losing more than 80% of its value. (Photo by Jordan Mansfield / Getty Images)Getty
Ripple, the common name for the XRP digital token, has survived better than most of the November sales, thanks to offers that continue to nail with the traditional financial services industry to provide fast and cheap cross-border transactions.
Despite many loyal bitcoins claim that bitcoin is simply a discount for today's Cyber Monday in view of a so-called Santa Claus rally (which traditionally sees stocks around the world moving upward in the run-up to Christmas), others they are losing faith in the future of bitcoins and cryptocurrencies.
The price of the bitcoin collapses over the weekend does not seem to be connected to any particular news, but a continuation of the sell-off unleashed at the beginning of the month by the fork of bitcoin cash cryptocurrency that triggered a civil war between the two factions of rival bitcoin.
Low trading volumes during the holiday weekend, however, indicate that the market is more vulnerable to so-called "whales" that move large amounts of bitcoin, ripple (XRP) or ethereum. When a major currency owner sells, he can trigger automated computer-controlled sales orders that lead to sudden disadvantages.
Many had hoped the bitcoin price had found a plan last week for over $ 4000.Coindesk
Elsewhere, others remain confident that the last fall in bitcoin prices will be short-lived and can be remedied with greater institutional involvement and regulatory oversight of the cryptocurrency space.
"Bitcoin's latest dive is proof of the need for more regulatory oversight to boost investor confidence," said Herbert Sim, Cryptology's chief commercial officer, a Singapore-based cryptocurrency exchange. "There is already a huge amount of capital linked to cryptocurrencies, exceeding $ 100 billion, so why let it continue to be a rogue market?
"In order for space to move forward and investor confidence stabilizes, regulators must implement standards to separate weeds from roses in the world of cryptocurrencies." Having overseen the cryptocurrency Wild West will legitimize and stabilize the industry later. , which will allow him to reach the next step of maturity ".
