Criptocurrency & # 39; bloodbath & # 39; as Bitcoin falls 30% in a week


Bitcoin has lost almost a third of its value in just a week, while the cryptocurrencies suffer new pressure.

Bitcoin was trading 7.5% lower on Tuesday – the lowest level for more than a year according to the Bitstamp exchange – hours later The US technology stocks have suffered new losses on Wall Street.

He left the value of Bitcoin just above $ 4,300 (£ 3,342).

Only 11 months ago, an upward trend in the digital currency stopped only less than a record of $ 20,000, but has since remained largely on a downward spiral.

Other cryptocurrencies also felt pain with Ethereum & # 39; s Ether which lost 10% and the Ripple XRP had dropped 13% during the day.

Naeem Aslam of Think Markets said: "Basically, the current sell-off was once again triggered due to regulatory pressure.

The SEC (US Securities and Exchange Commission) reminded the cryptic world that it has the final word on everything that smells of security.

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"The department has issued civil sanctions against two cryptocurrency companies because they have not registered the first coin bids as securities."

Despite the introduction of a futures market to help alleviate market volatility, fluctuating values ​​continued to haunt attempts to strengthen credibility.

Some of the latest falls were also attributed to a battle for control of a smaller encrypted operator called Bitcoin Cash.

Neil Wilson,'s chief market analyst, said that there is growing evidence of a potential link with the wider problems of the technology industry, as the so-called FAANG stocks are under renewed pressure.

He described the collapse of the Bitcoins as a "bloodbath", adding: "Should there be an incentive to buy?

"It seems rather that the fund is coming out of this market: Bitcoin has easily violated the basic psychological support for $ 5,000 and with its trading at $ 4,500 the return to the lows of September 2017 or just below $ 3,000 seems eminently achievable.

"The fallout in other crypto activities is important, the goal of the bear should be 0, because that is what it is worth".

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